FranShares, a Chicago, IL-based provider of a platform for franchise investing, raised $4.1M in seed funding.
The round, which brought brings total capital raised to date to $5.76M, was led by Chicago Ventures.
The company intends to use the new capital to expand its business and launch a secondary marketplace later this year.
Founded by Kenny Rose, FranShares is a one-stop solution for franchise operators and investors. It gives franchisors and franchisees a fast and easy way to raise funds for expansion, and provides individual investors access to an alternative asset class prized by institutions and high-net-worth individuals. Operators can fund expansions through FranShares’s community of nearly 50,000 investors, who gain fractional ownership in franchise locations and receive excess profits as distributions.
FinSMEs
31/07/2024