MAGFAST Raises Over $1M in Investments on Online Platform Within Hours of Opening

Investments in MAGFAST securities hit the million-dollar limit on Netcapital.

MAGFAST LLC, an emerging technology company that has developed a unique line of magnetic electronic device chargers, raised over $1 million in investments on Netcapital, an online investment platform that allows small investors to invest in up-and-coming startups that show potential for rapid growth.

MAGFAST, a forward-thinking company with a highly attractive and innovative line of groundbreaking new products that are revolutionizing the charging of electronic devices, made history on the Netcapital platform on Thanksgiving Day when hundreds of small, individual investors flocked to the site to invest in the growing company.

The offering, launched at 4:00 p.m. on Thanksgiving, attracted small, private investors looking to profit from the opportunity to purchase ground-level pre-IPO securities in MAGFAST and raised $1,055,250 in investments, hitting its fully-subscribed maximum limit within a few hours of opening. This response represents one of the fastest and most successful fundraising efforts ever recorded on the Netcapital platform and created such an impact that it even temporarily caused a crash in the Netcapital servers.

Small investment platforms such as Netcapital have become widespread thanks to the Jumpstart Our Business Startups (JOBS) Act that was signed into law in 2012. The JOBS Act granted the Securities Exchange Commission (SEC) the right to modify the rules and guidelines governing investments in small startup corporations, creating opportunities for emerging companies to make available a limited offering of equities to the general public in a manner that had not been authorized since the 1930s.

“You can think of it as a kind of baby IPO,” said Seymour Segnit, MAGFAST’s founder and CEO, in reference to the Netcapital opportunity. “It’s clear from the overwhelming response to this offering that our pre-order customers – the folks who know us best – are as excited about what’s possible for MAGFAST as we are.”

Jason Frishman, CEO of Netcapital, expressed his enthusiasm for the event. “The excitement around MAGFAST’s offering and their innovative magnetic chargers was really incredible. Selling out the offering in less than 24 hours is an impressive achievement,” he said. “It was such a pleasure working with Seymour and all of MAGFAST’s talented and accomplished team. Our family at Netcapital is thrilled we could help facilitate MAGFAST’s next phase of growth through the success of its digital raise.”

Segnit also had great things to say about Netcapital and the opportunity that the platform provided for MAGFAST.  “If you have an ordinary company, you’ll want to go with one of Netcapital’s competitors – they’ve got the cookie-cutter approach down pat,” he said. “But if you are growing something exceptional, call Jason’s team at Netcapital. They’re extraordinary.”

About MAGFAST and Its Family of Chargers

MAGFAST is a direct-to-consumer company that sells innovative electronic products that are revolutionizing the process of charging mobile devices. The company designs and manufactures a family of high-end electronic chargers that snap together magnetically, facilitate rapid wireless charging, and are compatible with every electronic device on the market.

MAGFAST chargers appeal to the sensibility of investors seeking ground-level investments in growing tech companies that are on the cutting edge of trends that respond to widespread consumer needs and provide innovative solutions for contemporary problems. MAGFAST chargers are not only attractive, fast, and highly potent – with one model powerful enough to charge a car battery – they also eliminate the messy clutter of wires and cables that normally accompany electronic chargers. 

While each MAGFAST charger and power bank is highly powerful on its own, when used as part of an integrated system, their potency increases thanks to the versatility of magnetic interconnectivity. As the world’s only magnetic wireless charging system, the MAGFAST Family of chargers covers every possible charging need while eliminating clutter from cables and working together as a sleek and streamlined ensemble. Although every single MAGFAST unit is designed and crafted with the highest quality to compete as best in its class, most of the chargers ordered to date were pre-ordered as elements of the MAGFAST Family Pro Kit bundle that consists of six individual chargers.

Investors also found MAGFAST appealing because the company has demonstrated its commitment to protecting the environment by creating products that eliminate the need for continuous replacement of multiple device chargers, cutting back on electronic landfill waste. The company also partners with an environmental nonprofit called Trees for the Future that has committed to planting a tree for every MAGFAST unit sold- with over a quarter million trees planted to date.    

If you’d like to pre-order MAGFAST products or learn more about MAGFAST and its family of premium electronic products, visit the company’s website.

About Netcapital Inc.

Netcapital Inc. is a publicly traded company in the fintech industry that is committed to making private capital investments more democratic by empowering small-scale investors and entrepreneurs, leveraging the success of both sectors.

Netcapital is committed to helping companies at all stages of their development build, expand, and fund their businesses and growth projects through a full range of services, from providing strategic financial advice to direct online opportunities for raising capital. The company facilitates access for small-scale and retail investors to participate in lucrative pre-IPO investment opportunities in growing companies, as well as the potential for liquidity in privately held shares through Netcapital’s Secondary Transfer Platform, provided by Netcapital Systems.

Netcapital’s digital investment platform is powered by scalable technology that connects growing companies with interested investors, facilitating opportunities for companies to raise capital online while contributing to the growth of a small, private investment sector. By investing as little as $100 on the Netcapital platform, smaller investors can gain access to innovative growth opportunities through affordable, direct online investments.

For more information about Netcapital Inc., visit the company’s website.