Community Capital Report 2024: From Slow Burn to a Breakout Year

2024 was anything but predictable. With macroeconomic uncertainty, rising interest rates, and tighter institutional purse strings, many startups faced an uphill climb when it came to raising capital. But amidst the headwinds, a powerful trend emerged: Canadians turned to equity crowdfunding in record numbers—fueling early-stage innovation and giving everyday investors a greater say in the future of our economy.

Today, we’re proud to release FrontFundr’s Community Capital Report 2024, a deep dive into how equity crowdfunding helped shape Canada’s private market growth last year—and what it means for the years ahead.

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A Breakout Year for Community Capital

While traditional venture capital slowed, equity crowdfunding surged. In 2024, FrontFundr facilitated $68.3 million in funding for Canadian startups and growth companies—more than double what was raised through the platform in 2023. With 66 successful campaigns and over 4,200 individual investments, this was our biggest year yet. Key 2024 highlights include:

• $68.3M raised across 66 campaigns
• $258M+ in total capital raised to date
• 28,000 investments since launch
• 93% market share under NI 45-110 startup crowdfunding exemption
• Fastest raise: Blossom Social raised $1.35M in 3.5 days
• Largest raise: Edison Motors raised $2.4M in 2024 alone

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Momentum Across Sectors and Regions

From emerging tech to consumer brands, equity crowdfunding unlocked capital across a diverse range of industries. While finance led the way—raising over $55 million, largely through income-generating products like MICs and REITs—other sectors also showed strong growth:

• Technology saw a 17% YoY increase, led by purpose-driven startups like Blossom Social and HOVR
• Manufacturing emerged as a surprise breakout sector with Edison Motors
• Food & Beverage brands like Sheringham and Top Shelf Distillers activated their loyal communities

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Regionally, investment momentum was strongest in:

1. Ontario – $35.6M raised across 1,640 investments
2. British Columbia – $26 million raised across 1,226 investments
3. Alberta – showing renewed strength and activity with $2.4M raised across 624 investments

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Expanding Access and Empowering New Investors

We’re not just seeing more capital—we’re seeing who is investing change, too. More women and younger Canadians are stepping into private market investing, signaling a shift in how and why people invest. Some key highlights include:

• 26% of our investor base is now comprised of women
• Investors aged 30–39 are our most active group
• 87% of funded companies remain active
• 13.7% have seen liquidity events with notable exits from Hempalta and Liquid Wind in 2024

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Innovation Behind the Scenes

To meet growing demand, we introduced several new tools and programs aimed at making investing easier and more rewarding for all:

• A redesigned investment process reduced drop-off
• New partnership with StartEngine unlocked U.S. deal flow for Canadian Accredited Investors
• The Elite Circle gave investors access to exclusive opportunities and perks

These improvements helped contribute to a 97% increase in new investors and a 17% increase in average investment size in 2024.

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Looking Ahead: A New Era for Canadian Capital

As we enter our 10th year in 2025, FrontFundr remains committed to expanding access to capital and giving more Canadians the opportunity to invest in the companies and causes they care about. Global momentum is on our side: in his 2025 letter, BlackRock CEO Larry Fink called for the democratization of private markets—a message that echoes what we’ve been building toward all along.

Together, we’re not just funding companies—we’re fueling a new kind of economy. One that’s more inclusive, more connected, and more resilient.

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📥 Download the full Community Capital Report 2024 to explore the data, trends, and strategies shaping Canada’s private markets: