Merchants Bancorp. (OTCBB:MBNC) announced that it will raise $3,000,000 in a round of funding on April 28, 2014. The company will issue common stock pursuant to exemption provided under Regulation D. The minimum investment accepted from any outside investor is $25,000.

As of May 20, 2014, the company has received $2,150,000 in funding from nine investors in the first tranche.

On May 22, 2014, Merchants Bancorp. closed the transaction. The company raised $2,200,000 in the transaction. The company issued preferred shares in the transaction. The funding came primarily from existing shareholders.