Often not easily. Republic Europe's market excludes convertibles, and the SAFE we read above limits transfers heavily.

Investing in practice

How to sell crowdfunded shares

Q: Can you sell to a friend in the first year?

Only if they are accredited or a family member, or another listed exception applies.

Q: Does a platform's market mean you can always sell?

No. StartEngine warns that an active market may never develop, and Republic Europe that an early exit may not be available.

You often cannot sell crowdfunded shares when you want to: US Reg CF securities are locked for 1 year with few exceptions, and after that you need a buyer, a platform's resale market or an event run by the company. As of 4 Nov 2026 some platforms run a market and many do not, so a sale may not come until the company is sold or lists, and you may not get your money back.

Not investment advice. Early-stage investing is high-risk and illiquid; you may lose all the capital you invest.

Some points here have not been confirmed against a primary source. Each is marked “Not yet verified”, and this page stays out of search until they are.

By Raise Sonar. Published 4 Nov 2026.

Where	Can you sell?	The route	What it costs	Source
US, first year	Only to the company, an accredited investor, family or a trust, in a registered offering, or on death or divorce	A private transfer	Depends on the transfer	17 CFR 227.501 (opens in a new tab)
StartEngine	Yes, after the lock-up	Its Marketplace, with a US bank account and address	Seller 5%, buyer 3.5%, US$250 minimum	Marketplace (opens in a new tab), FAQ (opens in a new tab)
Wefunder	Only to a buyer you find	A secondary transfer	No Wefunder fee	Wefunder (opens in a new tab)
Republic (US)	Not yet verified Eligible holdings only	Not yet verified Its secondary market	Not yet verified Said to be free	Not yet verified Republic (opens in a new tab)
Republic Europe	Yes, if held through its nominee, and not for EU-region users	Its secondary market	2% each side, plus carry on any profit	Fees (opens in a new tab), How it works (opens in a new tab)
Crowdcube	Not yet verified Only in an event the company approves	Not yet verified Managed sale events	Not yet verified A liquidity fee	Not yet verified Crowdcube (opens in a new tab)
EU platforms	The platform may host a bulletin board, not a market	Advertise interest	Set by the platform	ECSPR Art. 25 (opens in a new tab)
Australia	Not within 12 months without a disclosure document, unless exempt	A private sale	Not stated	ASIC RG 261 (opens in a new tab)
Canada	The form warns you might never be able to	A private sale, under resale rules	Not stated	NI 45-110 (opens in a new tab)

How long are you locked in?

In the US, one year from when the securities were issued (opens in a new tab). In that year they can go only to the company, an accredited investor, someone buying in an SEC-registered offering, a family member or a trust you control, or on death or divorce. The restriction binds any purchaser (opens in a new tab), not only the first.

The date runs from issue, which can be later than the day you committed. Wefunder's page (opens in a new tab) counts from purchase, so the document to go by is the rule.

What changes after the first year?

Less than it sounds. The lock-up ends, but SEC staff (opens in a new tab) say a resale must still be registered or eligible for an exemption, and that a funding portal itself could not facilitate a secondary market. They described the market to 2018 as generally non-existent.

Not yet verified We could not confirm which exemption a holder normally relies on after year one. Rule 144's list of restricted securities (opens in a new tab) names neither Reg CF nor section 4(a)(6), and state rules may also apply to a private resale.

The security's own terms can add more. One SAFE filed in 2026 (opens in a new tab) requires registration or a lawyer's opinion, bars sales to competitors, makes the buyer sign a new nominee agreement and allows a lock-up of up to 180 days on an IPO. SAFE vs equity vs convertible note in crowdfunding shows where those terms sit.

Which US platforms have a resale market?

StartEngine does. Its company StartEngine Primary is on the SEC's list of alternative trading systems (opens in a new tab), a notice filing and not an approval. Its Marketplace (opens in a new tab) has a US$250 minimum, a 5% seller fee and a 3.5% buyer fee, and selling requires its Venture Club. The company can deny a sale or buy the shares itself on the same terms, and transfers can take up to 30 business days. Its FAQ (opens in a new tab) warns of no guarantee that an active market will develop, and requires a US bank account, address and phone number.

Wefunder does not run a marketplace or buy investments back (opens in a new tab). You find your own buyer, and it does not charge for the transfer.

Not yet verified Republic's help page (opens in a new tab) refused our reader on 4 November 2026. Search results describe a free secondary market for eligible holdings only.

How do you sell in the UK?

Republic Europe runs a secondary market (opens in a new tab) in which you trade beneficial ownership while the nominee stays the legal holder. Each side has three days to confirm and pay, and a price can run from £0.01 to 500% of the current valuation price. It charges 2% each side (opens in a new tab), with a £0.50 minimum, plus carry on profit of 5%, or 7.5% for assets created by 25 March 2024.

Only nominee-held shares (opens in a new tab) can be sold, to investment-authorised members (opens in a new tab), and lots can be ineligible (opens in a new tab) around valuation events or at the company's request. It says investors should not assume (opens in a new tab) an early exit will be available.

Not yet verified Crowdcube. Its help centre refused our reader on 4 November 2026. Search results for its page (opens in a new tab) describe no open market, only managed events the company approves, at a price set beforehand, and you cannot sell without one.

Not yet verified PISCES is the FCA's new venue for private company shares (opens in a new tab), with occasional, time-limited trading events. Buyers may be sophisticated, high-net-worth or institutional investors, or employees, and companies can restrict buyers but not add limits on sellers. Four operators are approved, among them the London Stock Exchange, whose first deal was a £45m auction for Moneybox's long-serving employees (opens in a new tab), announced in July 2026, so it has not yet been a route for crowd holders that we can point to. The FCA warns (opens in a new tab) that events may not repeat. We could not confirm how someone holding through a platform's nominee takes part.

Stamp duty is usually 0.5%, paid by the buyer (opens in a new tab), and PISCES-connected transfers are exempt (opens in a new tab).

What about the EU, Australia and Canada?

An EU platform may run a bulletin board (opens in a new tab) for members to advertise interest in securities first offered there. It must not bring interests together in a way that makes a contract or run an internal matching system, the seller supplies the information sheet, and any reference price is non-binding.

In Australia, shares cannot be sold within 12 months (opens in a new tab) without a disclosure document, unless an exemption applies. Canada's offering form warns that you might never be able to resell (opens in a new tab).

Can the company buy you out?

Sometimes. A sale to the company is allowed even in the first year (opens in a new tab), and a company can run a buyback or let other investors buy. A US tender offer has to stay open for at least 20 business days (opens in a new tab). These come when the company chooses and may cover only some of your holding: in Revolut's 2024 share sale, about 2% of the crowd's position had a buyer.

What price will you get?

Whatever one buyer will pay on the day, which may be far from the last round's price. Republic Europe (opens in a new tab) says its fair value follows the last round, and that secondary prices do not move it. So a listed price is an offer, a trade is one price agreed, and neither values the company. The FCA's warning (opens in a new tab) is that you may not be able to get your money back quickly, or at all, and that not all platforms offer a way to sell. Our exits pages show what sales have paid.

What tax applies when you sell?

UK. Capital gains tax is 18% or 24% (opens in a new tab), with a £3,000 allowance. A sale within three years (opens in a new tab) of EIS or SEIS shares loses the relief, as EIS and SEIS on Crowdcube and Republic Europe sets out.
US. A gain on something held over a year is long-term, at 0%, 15% or 20% (opens in a new tab). Net losses against other income stop at US$3,000 a year.

How many platforms offer a way to sell?

Our directory records 10 of the 26 platforms we track as running a way to sell, which may be a market, a bulletin board or a company event. That records what we have read and is not a check on any market's depth.

Frequently asked questions

Can you sell to a friend in the first year?

Only if they are accredited or a family member (opens in a new tab), or another listed exception applies.

Can you sell a SAFE?

Often not easily. Republic Europe's market (opens in a new tab) excludes convertibles, and the SAFE we read above (opens in a new tab) limits transfers heavily.

Does a platform's market mean you can always sell?

No. StartEngine (opens in a new tab) warns that an active market may never develop, and Republic Europe (opens in a new tab) that an early exit may not be available.

What if the company fails before you can sell?

Then there is usually nothing to sell, and a tax claim may be all that is left. What is equity crowdfunding? covers the wider risks.

Sources

About the author

Raise Sonar is an information service that tracks equity crowdfunding raises and is not a broker-dealer, funding portal or crowdfunding service provider. Our guides are researched from primary sources, linked above, and a point we could not confirm on one is marked. About Raise Sonar