addy Technology Corp. Settles with BC Securities Commission Over Unregistered Trading
Vancouver-based addy Technology Corp. has reached a settlement agreement with the BC Securities Commission (BCSC) after being found to have operated as an unregistered trader since its inception. The company, which allows investors to purchase fractional shares in real estate properties, will pay $100,000 to resolve the matter.
“addy operates an online platform where investors can fractionally invest in real estate properties and developments in amounts as low as $1 by purchasing shares or limited partnership units in various issuers,” the BCSC stated in a settlement agreement dated March 17. “addy has never been registered under the Act in any capacity.”
Founded in 2018, addy allows retail investors to invest in specific properties, rather than a company at large, by breaking down equity in real estate projects into $1 increments. According to the BCSC, between July 9, 2018, and February 14, 2025, addy traded approximately $26 million in securities, with an average investment of $700 per investor.
Initially, addy charged investors annual membership fees, but these were later made optional. The company launched an iOS app in April 2022.
BCSC Findings and Exemptions
The BC Securities Commission determined that addy was required to register because it solicited investment, acted as a trading intermediary, received compensation, and engaged in these activities regularly. The BCSC noted that addy had been operating under two registration exemptions, neither of which applied:
- Crowdfunding Exemption: This exemption was deemed inapplicable because “certain of the Issuers had principals in common with addy, contrary to section 5(1)(o) of the Crowdfunding Exemption.”
- Intermediary Exemption: This exemption, which applies when trades are executed through a registered dealer, was also not applicable because addy solicited investors directly through its platform, email, and social media.
Settlement and Future Registration
Critically, the BCSC has not alleged that addy mishandled any investor funds. The company has no previous history of misconduct and has already begun the registration process. In a statement to STOREYS, Co-Founder Stephen Jagger declined to comment on the initial lack of registration, but expressed excitement about the company’s evolution and registration efforts.
Today, the addy platform lists over 50 properties available to investors, with a majority already sold out. These include projects in Vancouver, Alberta, and Ontario.
addy has also introduced “addy Business,” a similar structure allowing companies to raise capital. Home equity and land loans are among the additional offerings.
addy was founded in 2018 by Jeff Booth, Michael Stephenson, and Stephen Jagger. The company’s board includes Booth, Stephenson, Jagger, Keith Spencer, Pascal Spothelfer, Steve Evans and Meir Bulua. Advisors include Vikram Dhir, Lindsay Brand, and Thuan Pham.
Over the years, addy has garnered significant media attention and has also produced its own media content. The company’s featured guests have included Minister of Housing Ravi Kahlon, the Mayor of Vancouver Ken Sim and the Mayor of Burnaby, Mike Hurley, among others.
