Neighborly

About Neighborly

Neighborly was a financial technology startup founded in July 2012 by Jase Wilson and Patrick Hosty with a mission to reshape civic investing. Wilson, a civic technologist with a background in urban planning from the University of Missouri-Kansas City and MIT, was driven by a desire to connect capital with communities for funding vital infrastructure. His co-founder, Hosty, was a municipal bond trader. The founder's journey began in rural Missouri and was shaped by an early interest in technology and a later passion for understanding the complex systems of cities, which he viewed as intricate structures co-created by their inhabitants. Before Neighborly, Wilson founded Luminopolis, a civic technology firm focused on open-source software to connect communities with citizens.

Initially based in Kansas City, Missouri, Neighborly operated as a crowdfunding platform that enabled individuals to invest in municipal bonds for community projects such as schools, parks, and libraries. This model aimed to democratize civic funding by allowing direct investment in local projects. In its first two years, the company facilitated donations for 55 community projects, raising over $2,500,000. A significant milestone was the introduction of 'civic microbonds' in July 2015, which lowered the minimum investment required for municipal bonds. To better access seed funding, the company relocated its headquarters to San Francisco in 2015.

The company's business model later pivoted to focus on financing and deploying fiber-optic broadband infrastructure in underserved U.S. communities. This shift aligned with the goal of closing the digital divide by providing critical infrastructure to communities and offering opportunities to impact investors. Neighborly attracted notable investors, including Emerson Collective, 8VC, and Ashton Kutcher's Sound Ventures. After securing $5.5 million in seed financing in 2015 and a $25 million Series A round in 2017, the company ultimately failed to secure further funding and ceased operations in October 2019.