The hybrid investment slash crowdfunding platform Fig has been scooped up by Republic, a similarly geared investment platform aimed at helping the masses invest in startups.
On its own, Fig takes the crowdfunding focus of sites like Kickstarter and builds in additional funding options that more closely resemble traditional investments, where those that put money into a project can potentially see a return on that investment if a game does well (or sees its publishing rights sold off).
The same remains true now that Fig is part of Republic. Fig notes in a brief FAQ that the acquisition doesn’t change its goals or structure, and existing investors won’t see any change to their revenue sharing terms, dividend rates, and deal lengths due to the deal. For devs, the team up aims to leverage Republic’s investment and startup experience in a way that Fig believes can bring more opportunities and growth to indie developers.
“The biggest change that we expect going forward is that Fig and Fig’s investors will benefit from a vastly expanded set of resources and networks to help with everything from legal work to investor support,” explains the Fig team. “As a very small team, there have been many things that we’ve wanted to do and improve over the years that we simply haven’t had the capacity for. By joining Republic, we look forward to providing a smoother and more enjoyable investment experience with more to come in the future!”
Terms of the acquisition were not disclosed, though Republic notes that Fig founder Justin Bailey is staying on as a board member and operating advisor for Republic following the deal.