Small Change
Small Change is a US real estate crowdfunding marketplace that connects individual investors with real estate developers through SEC-registered offerings (Reg CF and Rule 506(c)), with a focus on community-oriented, impact-aligned projects across more than 20 US states.
- Company typePrivate
- Founded2015
- HeadquartersPittsburgh, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingDigital Commerce or Content
What Small Change does
Small Change is a US-based real estate crowdfunding marketplace that connects individual investors with real estate developers and sponsors raising capital through SEC-registered securities offerings. The platform operates through two affiliated LLC entities: NSSC Crowd, LLC, which lists Rule 506(c) offerings restricted to accredited investors (e.g., FlexCaves Kansas City with a $50,000 minimum), and NSSC Funding Portal, LLC, a licensed Regulation Crowdfunding (Title III) portal open to all investors (e.g., Westvue Manhattan, Hawthorn Crossings, both with $1,000 minimums). Project minimums span $1,000 to $50,000, and listed offerings include affordable housing, minority-led, women-led, sustainable, creative-economy, and Opportunity Zone developments across more than 20 US states.
The underlying technology is a self-serve web platform (smallchange.co) with a content hub at learn.smallchange.co, project-listing interfaces with investor counts and target raises, and user sign-up / sign-in flows. No mobile app, public API, SDK, or disclosed AI integrations are present. Marketing is digital-first and organic, relying on Twitter, Facebook, Instagram, and email newsletters to reach impact-oriented "change makers." The platform is operated privately with no disclosed funding rounds, headcount, or executive leadership beyond a single [email protected] contact channel.
The business model is transaction-fee based: the platform charges fees to issuers (real estate developers and sponsors) for listing and capital-raising services on the two SEC-registered entities, with both retail (long-tail) and accredited investor pools accessible to each deal. Customer segments include accredited investors, non-accredited retail investors, impact/change-maker investors, and developer-side issuers. Two-tier offering structures (Reg CF + 506(c) stacked onto a single project, e.g., Sharswood and Golaski Labs) reflect a deliberate strategy to broaden the issuer's addressable capital pool within a single raise.
Small Change firmographics
Firmographics- Name
- Small Change
- Legal name
- Small Change (operated by NSSC Crowd, LLC and NSSC Funding Portal, LLC)
- Website
- https://smallchange.co
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Small Change is a US real estate crowdfunding marketplace that connects individual investors with real estate developers through SEC-registered offerings (Reg CF and Rule 506(c)), with a focus on community-oriented, impact-aligned projects across more than 20 US states.
- Ownership category
- akta.pro rank
Small Change industry classification
Industry- Product category
- Real Estate Crowdfunding
- NAICS
- Investment Banking and Securities Intermediation (523150)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Private Credit & Direct Lending Fundraising Placement (FSAEALAE)
- akta.pro secondary industry
- Private Placements (144A/Reg S/MTN) (FSACABAK)
Keywords
Where Small Change is headquartered
LocationHeadquarters
- HQ city
- Pittsburgh
- HQ country
- United States
- HQ region
- North America
Markets served
Small Change business model
Business model- GTM type
- B2B and B2C
- Offering type
- Digital Commerce or Content
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Platform fees from issuers: Facilitates capital raises for real estate developers and charges fees for listing projects on the platform. The platform operates two entities: NSSC Crowd (Reg 506(c) for accredited investors) and NSSC Funding Portal (Reg CF for all investors).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Variable minimum investments per project |
Go-to-market motion3 records
Distribution channels1 record
Marketing channels5 records
Small Change product offering
Product offeringCore offering
Small Change operates a real estate crowdfunding marketplace that connects real estate developers and sponsors seeking capital with individual investors. The platform operates through two SEC-regulated entities: NSSC Crowd, LLC (Rule 506(c) offerings restricted to accredited investors) and NSSC Funding Portal, LLC (Regulation Crowdfunding/Title III offerings available to all investors). It lists 30+ projects including affordable housing, minority-led, women-led, creative economy, and sustainable developments, with investment minimums ranging from $1,000 to $50,000.
Product overview
Small Change operates a real estate crowdfunding marketplace consisting of two integrated platforms: NSSC Crowd (Rule 506(c), for accredited investors only) and NSSC Funding Portal (Regulation Crowdfunding/Term III, open to all investors). The platform enables investors to browse and invest in various real estate projects including affordable housing, minority-led, women-led, creative economy, and sustainable development projects. Project offerings range from community-owned properties, co-living spaces, mixed-use developments, to Opportunity Zone investments, with minimum investment requirements varying from $1,000 to $50,000.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Investment minimums as low as $1,000
- +2 more outcomes
Companies that use Small Change
Customer profileSegments4 records
Ideal customer profiles3 records
Small Change technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Small Change partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core operational entity.
- NSSC Crowd, LLCcore operational entityOperating entity for Reg 506(c) real estate investment offerings. Offers investments in real estate projects under Rule 506(c) of the SEC, exclusively to accredited investors.
- NSSC Funding Portal, LLCcore operational entityLicensed funding portal for Regulation Crowdfunding (Title III) offerings. Offers real estate investments to all investors, not just accredited investors.
Scale indicators2 records
Recent moves5 records
Expansion highlights5 records
Small Change competitors and assessment
Company assessmentDirect peers
- Fundrise: Largest US real estate crowdfunding platform offering both Reg CF and 506(c) private placements to retail and accredited investors. Most directly comparable in product, regulatory model, and target audience.
- RealtyMogul: Real estate crowdfunding platform offering Reg D 506(c) and Reg A+ offerings to accredited and non-accredited investors. Direct competitor in the online real estate investment marketplace.
- CrowdStreet: Real estate crowdfunding platform primarily serving accredited investors with commercial real estate offerings. Comparable in private placement mechanics and developer-issuer model, though with a more institutional focus.
- YieldStreet: Alternative investment platform offering private placement access to real estate and other asset classes via Reg D 506(c) to accredited investors. Comparable regulatory structure and accredited-investor focus.
- Groundfloor: Real estate crowdfunding platform allowing non-accredited investors to participate in short-term debt-funded real estate projects. Comparable retail-access crowdfunding model using Reg CF.
- DiversyFund: Real estate crowdfunding platform offering multifamily and multi-asset projects to non-accredited investors via Reg CF. Comparable retail-access model with similar low minimum investment thresholds.
Broad incumbents
- Wefunder: Broader equity crowdfunding platform using Reg CF to offer startup and small business investments to retail investors. Adjacent as a crowdfunding intermediary with overlap in regulatory framework and self-serve onboarding.
- Republic: Multi-asset crowdfunding platform offering private placements in startups, real estate, and crypto via Reg CF and Reg A+. Operates an adjacent crowdfunding portal with comparable regulatory infrastructure to Small Change's funding portal.
Emerging players
- Roofstock: Online marketplace for single-family rental investment with fractional ownership features. Adjacent in democratizing real estate investing, but focused on a different asset class and operating model.
- AcreTrader: Online farmland investment platform offering fractional ownership via Reg D 506(c) to accredited investors. Comparable private placement structure and investor access model, though in farmland rather than real estate.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Small Change social profiles
Digital presenceSmall Change financial estimates
Financial estimateRevenue estimate
Valuation estimate
Small Change leadership team
Management profileNumber of profiles
Small Change funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Small Change M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Small Change
What does Small Change do?
Small Change operates a real estate crowdfunding marketplace that connects real estate developers and sponsors seeking capital with individual investors. The platform operates through two SEC-regulated entities: NSSC Crowd, LLC (Rule 506(c) offerings restricted to accredited investors) and NSSC Funding Portal, LLC (Regulation Crowdfunding/Title III offerings available to all investors). It lists 30+ projects including affordable housing, minority-led, women-led, creative economy, and sustainable developments, with investment minimums ranging from $1,000 to $50,000.
Is Small Change a public or private company?
Small Change is a private company. It is classified as unknown and is currently operating.
When was Small Change founded?
Small Change was founded in 2015. It employs 1 to 10 people.
Where is Small Change based?
Small Change is headquartered in Pittsburgh, United States, in the North America region.
How does Small Change make money?
One revenue line is on record: platform fees from issuers.
Who are Small Change's main competitors?
Direct peers on record are Fundrise, RealtyMogul, CrowdStreet, YieldStreet, Groundfloor and DiversyFund. Broad incumbents are Wefunder and Republic. Emerging players are Roofstock and AcreTrader.
Does Small Change have an API?
No public API is recorded for Small Change.
What industry is Small Change in?
Small Change's product category is Real Estate Crowdfunding. Its primary akta.pro industry code is FSAEALAE, Private Credit & Direct Lending Fundraising Placement, with a secondary code of FSACABAK, Private Placements (144A/Reg S/MTN). Its NAICS code is 523150 and its SIC code is 6211.