Reg CF vs Reg A+
Instantly compare the two SEC regulations powering the equity crowdfunding boom—so you can invest smarter.
Anyone can invest in startups
Reg CF and Reg A+ are the two regulations opening up the world of private investing.
But not all opportunities are the same
Learn the differences so you can invest with confidence and spot the right opportunities for you.
Real Startup Examples
BoxablReg CF
$4.6M in 2023
Boxabl reached the Reg CF cap in weeks, giving everyday investors access at just $500.
ApteraReg A+
$30M+ in 2024
Aptera scaled its campaign nationwide via Reg A+, drawing both retail and accredited investors.
At-a-Glance Comparison
Reg CFStartup Crowdfunding
Up to $5M/year
Anyone can invest (annual limits for non-accredited)
Reg A+Scale-Up / Pre-IPO
Up to $75M/year
Anyone can invest, no cap
Deep Dive: Regulation Details
Compare the two side-by-side, with plain English context and real startup examples for each rule.
Reg CF
Reg A+
Maximum Raise
Caps can limit growth funding, so later-stage companies often need Reg A+.
e.g. Boxabl hit the Reg CF limit: $4.6M
$5M
$75M
Who Can Invest?
Reg CF democratizes investing; Reg A+ removes caps for everyone.
e.g. You could invest in Boxabl for as little as $500.
Anyone (annual cap for most)
Anyone (no cap)
SEC Filing
More paperwork (1-A) = more investor protection, but a longer process.
e.g. Aptera filed a 1-A to raise $30M+ via Reg A+.
Form C
Form 1-A
Reporting
More reporting = greater transparency for investors.
e.g. Reg A+ companies like StartEngine file every 6 months.
Annual
Semiannual/Annual
Best For
Reg CF is for launches; Reg A+ helps scale or prep for IPO.
e.g. Parallel Flight used Reg CF; Aptera used Reg A+ to go national.
Startups (early stage)
Growth/Pre-IPO
Popular Platforms
Major platforms now offer both regs.
e.g. Boxabl raised on StartEngine; Aptera on Republic and SeedInvest.
StartEngine, Wefunder, Republic
SeedInvest, StartEngine, Dalmore
Note: This resource is educational only and does not constitute legal or investment advice. Review current SEC rules before investing.
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