$45M+ from over 15,000 retail shareholders: Reg A+ is still a real funding channel

While funding headlines are dominated by nine-figure venture rounds, Frontieras North America disclosed more than $45M raised from over 15,000 shareholders through a Regulation A+ offering — the US framework allowing companies to sell shares to the retail public. The offering was expanded beyond its earlier ceiling and is scheduled to close on 27 August 2026. It is a rare case of equity crowdfunding reaching the scale of a small Series B, at the cost of a very crowded shareholder register.