Republic is a company that helps forward-thinking startups acquire funding. A key component of their business is a Crowdfunding Portal that allows individuals to invest in startups with as little as $10.
The crowdfunding model presents its own set of regulatory challenges, including the requirement for companies funded in this manner to have GAAP-compliant financials. As most of their clients are startups early in their developmental trajectory, many clients do not meet these accounting standards and need help becoming compliant.
Republic has leveraged their partnership with Assure to be able to offer their clients GAAP conversion and, as a result, the ability to raise investment through crowdfunding.
“In order for our clients to be GAAP compliant, you really need a skilled and seasoned professional to make sure everything is accurate. Assure has that throughout their team and can execute for our clients,” said Chuck Pettid, CEO at Republic.
Not only does the Assure team manage the often complex GAAP conversion process, they execute in an exceptionally reliable and efficient manner.
“Regulators require a licensed CPA to review the GAAP financials for compliance,” Chuck shared. “Those licensed CPAs pretty much immediately became very comfortable with the work that Assure was completing. They know it’s coming from a professional that does the job right - that makes a world of difference in the time it takes to complete the financial review,” he continued.
Expedited CPA Review—Assure’s financial expertise helps streamline and expedite the CPA review process.
Scalable Solution—Assure manages up to 20 simultaneous conversions for Republic.
Matt leads Business Development and the Investment Team at Republic––an investment platform for startups to raise capital and for everyone to invest in startups. He and his team educate entrepreneurs on the value of opening up the investment opportunity to everyone, including their most loyal customers or users.Before diving into the startup world, he worked on Global Citizen’s Business Development team that managed corporate partnerships of their Fortune 50 accounts including Google, Johnson & Johnson, and Citi. He holds a B.A. from Georgetown University.