Netcapital: Platform Profile

Overview

Netcapital is a private-company investment platform supporting multiple securities exemptions.

Current legal structure:

• Netcapital Systems LLC operates the website;
• NetCapital Funding Portal Inc. handles Regulation Crowdfunding;
• Netcapital Securities Inc. handles Regulation A and Regulation D offerings.

That entity separation is central to a current review.

May fit better for

• non-accredited investors seeking startup access;
• accredited investors seeking private-company offerings;
• investors starting around $100;
• investors willing to evaluate issuer financials and Form C filings;
• investors comfortable holding illiquid securities;
• investors who want direct private-company exposure rather than a venture fund.

May fit less well for

• investors requiring liquidity;
• users who want diversified venture exposure in one fund;
• investors who do not want issuer-specific due diligence;
• investors who assume Netcapital sets company valuations;
• investors unable to tolerate total loss;
• users who expect current secondary trading.

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Current funding portal

Current 2026 Form C filings identify:

• Funding portal: NetCapital Funding Portal Inc.
• CRD: 283596
• SEC file number: 007-00035
• Broker dealer: No

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Current broker-dealer

Current FINRA BrokerCheck:

• Broker dealer: Netcapital Securities Inc.
• CRD: 329071
• SEC number: 8-71228
• FINRA member: Yes
• SIPC member: Yes

Current Netcapital legal pages state:

• Reg CF securities use the funding portal;
• Reg A and Reg D 506(c) offerings use Netcapital Securities.

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Current minimum

Current investor page:

• Minimums as low as: $99

Each offering sets its own minimum.

A current September 2026 offering shows a $100.80 minimum.

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General investor fee

Current Netcapital FAQ:

• General platform investor fee: $0

Payment method can create fees.

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Card-processing fees

Current FAQ:

• US credit or debit card fee: 2.9% + $0.30
• International card fee: 3.9% + $0.30
• Wire fee: bank-specific

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Card-fee example

A $1,000 U.S. card investment:

$1,000 × 2.9% + $0.30 = $29.30

The investment amount remains $1,000.

The processing fee is separate.

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Issuer fees

Current 2026 Form C filings show:

• Reg CF success fee: up to 4.9% of amount raised
• Listing fee: up to $10,000

Current corporate filings also describe issuer-side fees.

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Current secondary status

Current investor page states:

• Secondary transfer features temporarily unavailable: Yes

Netcapital's legal agreements contemplate ATS-based secondary transactions.

That legal infrastructure does not establish current availability.

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Reg CF transfer restriction

Current investor materials state:

• One year transfer restriction for many Reg CF securities: Yes

Statutory exceptions exist.

Even after the restriction expires, liquidity is not guaranteed.

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Valuation

Current Form C filings state issuer management can set offering prices without reference to traditional public-market valuation measures.

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Escrow

Current Master Investor Agreement disclosures show:

• Third party escrow bank: Luminate Bank
• FDIC member bank context: Yes

Escrow FDIC status does not turn the private-company security into an FDIC-insured investment.

Assessment

Netcapital combines a low entry point with direct private-company concentration.

The current platform can support investors with offering minimums around $100.

The investor still owns a highly illiquid private security whose outcome can depend on one company.

The critical 2026 legal distinction is:

Reg CF runs through NetCapital Funding Portal; Reg A and Reg D run through Netcapital Securities.

The critical liquidity distinction is just as important:

secondary-transfer features are currently unavailable despite legal infrastructure designed to support future secondary transactions.