EnergyFunders
| Company type | Private |
|---|---|
| Industry | Fintech, Energy, Crowdfunding |
| Founded | January 1, 2013 in Houston, Texas, United States |
| Founder | Philip Racusin, Roger Gingell, Michael Racusin, Casey Minshew |
| Headquarters | Houston , United States |
Key people | Laura Pommer (CEO) |
| Products | Crowdfunding platform for upstream oil and gas projects |
| Website | energyfunders |
EnergyFunders is a FINTECH company concentrating on energy, with a specialization in oil and gas crowdfunding.
History
EnergyFunders was established in 2013 in Houston, Texas by Philip Racusin, Roger Gingell, Michael Racusin, and Casey Minshew. Currently, the company is headed by CEO Laura Pommer. The firm runs a crowdfunding platform that adheres to US Securities laws, initially designed to grant accredited investors entry into upstream oil and gas ventures operated by independent producers. These producers are generally smaller, well-established entities facing limited funding alternatives. The platform began operations in 2014 and was officially launched in 2015.
In January 2018, EnergyFunders received authorization from FINRA to function as a crowdfunding portal under Regulation CF and rolled out an enhanced platform incorporating blockchain technology.
On May 20, 2022, Christopher Pettit stepped down as director and was succeeded by Laura Pommer. Subsequently, Pettit became involved in a fraud investigation concerning more than $250 million. By early 2023, investor frustration increased due to suspended distributions, inconsistent updates on investments, delays in K-1 tax documentation, and changes in leadership including Laura Pommer, Jason Eubanks, and Virginia Urban Light. Investors also noted management’s hesitance to conduct virtual meetings or share comprehensive investment details.
On February 21, 2024, former board member Christopher John Pettit received a federal prison sentence of 50 years for wire fraud and money laundering offenses.
EnergyFunders Platform
The EnergyFunders platform provides accredited investors access to crowdfunded upstream oil and gas projects that undergo thorough vetting by specialists in legal affairs, geology, technology, and finance. The company earns revenue through carried interest on investments made via the platform, establishing itself as a significant contributor to broadening investment accessibility within the oil and gas sector.