Netcapital Business Summary

Netcapital Inc. (NCPL) operates as a fintech-driven digital private capital markets ecosystem, primarily generating revenue through transaction-based portal fees, consulting services often compensated via equity securities, and broker-dealer commissions. The company’s business is structured into three core segments: the Netcapital Funding Portal, which facilitates Regulation Crowdfunding (Reg CF) offerings; Netcapital Securities Inc., a FINRA-registered broker-dealer focused on larger Regulation A+ and Regulation D raises; and Netcapital Advisors, a strategic consulting arm that provides marketing and advisory services to private issuers. Recently, the firm has aggressively expanded into the tokenization of real-world assets and blockchain-native secondary trading through the strategic acquisitions of Rivetz and Iverson Design. Netcapital competes directly with private market platforms such as StartEngine, Wefunder, and Republic, as well as specialized fintech firms like CaliberCos and Northern Lights Acquisition, positioning itself as a niche, micro-cap bridge between traditional private equity and decentralized finance (DeFi). The company is led by Chief Executive Officer Rich Wheeless, a seasoned financial executive with over 20 years of experience who previously served as CEO of ParcelPal Logistics and CFO of multiple publicly traded firms including Taal Distributed Information Technologies and Rivetz Corp. He is supported by Chief Financial Officer Coreen Kraysler, CFA, who brings over three decades of investment management experience from firms like Eaton Vance and Independence Investments, and Founder Jason Frishman, who established the Netcapital Funding Portal after a background in neuroscience research. The leadership team was further bolstered in early 2026 by the appointment of Michael Iverson as Chief Design Director and Head of AI Experience to spearhead the firm’s digital asset visualization strategy. Netcapital’s advisory board and investor base feature high-profile industry veterans, including Napster founder John Fanning, Guitar Hero co-creator Kai Huang, and renowned venture capitalist Tim Draper.