As a financial institution, just like your bank or broker, we need to be able to verify each investor's identity. This is not just helpful for the startups we host (imagine trying to issue shares to someone who doesn't exist) it is also required under U.S. federal law to prevent terrorist financing and money laundering.
From time to time, you may be prompted to provide your SSN, ID or Passport (and if you are investing as an entity, relevant documents for your entity) to complete an investment. Which of these is asked for will depend on, and is specific, to your situation. We collect this data to verify who you are and to make sure you are not on a list that would prevent the startup from doing business with you.
When we collect your personal identifying information, it's sent through a secure link to an established third party verification service (same one that AngelList uses), we do not retain it. If your documents and numbers are cleared, there will be no further action required, if something isn't right, we will reach out and help you fix it.
We want everyone to be able to invest on Republic, however, failure to provide requested documents or information will result in your investment commitment being cancelled.