Neighborly Raises $5.5M From Joe Lonsdale’s Formation 8, Ashton Kutcher To Transform The Municipal Debt Market

For American cities that need to raise millions or billions of dollars to finance projects from local parks to suspension bridges, the fractal-like complexity of global financial markets means that funding is becoming ever more opaque and distant from the real-world work it supports.

A startup called Neighborly is hoping to narrow that gap with a $5.5 million round of funding from Joe Lonsdale’s Formation 8 and Ashton Kutcher’s Sound Ventures. An earlier incarnation of the product was about crowdfunding civic projects, kind of like a Kickstarter for your neighborhood.