Perhaps now more than ever, folks across the country are looking for ways to invest in their communities and collaborate to build a better future. Cambridge, Massachusetts is blazing a trail in that direction by using a new way to fund critical local projects like parks, streets and municipal facilities.
In February 2017, the City pioneered the beginning of something truly revolutionary – offering online tradable bonds directly to its constituents.
neighborlyblogHow Cambridge and its Residents Unlocked the Future of Public Finance
Today we're thrilled to announce that Neighborly raised a $25 million Series A round to further our mission of modernizing public finance The investment was led by Joe Lonsdale at 8VC, Laurene Powell Jobs at Emerson Collective, with follow-on participation from Ashton Kutcher at Sound Ventures, Maven Ventures, Bee Partners, and Stanford University We welcome newcomers Govtech Fund, Abstract.vc, and Fintech Collective.
Thank you to all of our investors for joining and mentoring us on our mission You are visionaries who stand with us on our quest to do well financially by doing good for our nation’s communities
Neighborly modernizes access to public finance We connect borrowing communities with investors of every type, allowing cities to more easily issue debt and allowing community members to invest directly in their communities.
The use of minibonds, small denomination municipal bonds, to fund public projects is appealing to government officials since they are believed to broaden local investor access and strengthen the connection between residents and the projects. But how do they compare to traditional, higher denomination municipal bonds in terms of costs?
neighborlyblogRaising Financial and Social Capital with Small Denomination Municipal Bonds
Hi, I’m Erin. I work on Issuer Solutions at Neighborly. I’m looking forward to helping Neighborly reach new issuers and make the municipal bond market work better for them. One of my focus areas is higher education.
Want to apply? See neighborly.com/challenge for more information.
New to Neighborly? Watch this first.What is Neighborly?Neighborly is a San Francisco based firm, and provides underwriting services through its registered broker dealer subsidiary, Neighborly Securities. Neighborly leverages its financial technology focus to deliver an enhanced connection between states and localities to investors in their communities. Neighborly is not a municipal advisor.Do I have to have a project ready to finance?No. You may apply without a project. However, please indicate the type of projects that you are considering. For instance, if you want to submit an infrastructure project, but are not sure which specific project you would like to fund, indicate “TBD - Infrastructure” in the Project Description.