Netcapital Inc.

Netcapital Inc. is a fintech company that operates a scalable technology platform enabling private companies to raise capital online from both accredited and non-accredited investors. The company's model is based on Title III, Regulation Crowdfunding ("Reg CF") of the Jumpstart Our Business Startups Act ("JOBS Act"). Netcapital generates fees from listing private companies on its funding portal, www.netcapital.com. This portal is registered with the SEC and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Netcapital funding portal charges a $5,000 listing fee, a 4.9% portal fee for capital raised at closing, and, beginning in fiscal year 2025, a 1% success fee paid with equity of the funding portal customer. It also generates fees for ancillary services like rolling closes. The company has expanded its model to include Regulation A ("Reg A") offerings, which are conducted by its wholly owned subsidiary, Netcapital Securities Inc., a licensed broker-dealer with FINRA. Both Reg A and Reg CF offerings are accessible to investors via the company's website, www.netcapital.com. Netcapital Advisors Inc., a wholly owned subsidiary, previously provided marketing and strategic advice to companies in exchange for cash fees and equity positions in certain select portfolio companies. However, due to limited staff, Netcapital did not seek consulting engagements in fiscal 2025 and does not plan to seek them in fiscal 2026.