Impact Crowdfunding Leader Backs $20 Million Crowdfunding Cap -- and Urges SEC to Make Small Raises Easier Too

Devin Thorpe, founder and CEO of impact crowdfunding platform The Super Crowd, has urged the U.S. Securities and Exchange Commission to raise the Regulation Crowdfunding limit from $5 million to $20 million. In a comment letter dated October 26, 2026, Thorpe supports a petition filed by Sherwood “Woodie” Neiss (Crowdfund Capital Advisors) and docketed as SEC File No. 4-914 on July 13, 2026. The proposal would increase the cap to $20 million over a 12-month period with inflation adjustments. Thorpe also recommends reforms for smaller offerings: lifting the threshold for officer-certified financial statements from $124,000 to $500,000 and allowing cash or simplified accrual basis reporting without full GAAP. He argues the real barrier for first-time fundraising is costly financial statements and accountant reviews, not the cap.