The Financial Industry Regulatory Authority (Finra) has approved a new member application submitted by Houston-based Netshares Financial Services LLC, to commence operations as a registered broker-dealer, the company recently announced in a news release.

The firm, which will be named Netshares, will offer a digital investor marketplace for private capital that serves both accredited and unaccredited investors, with a primary focus on serving the capital needs of the franchise hospitality space.

David Lee, CEO and founder of Netshares, has been active in the franchising industry since 2007 and operates All-Star Franchise LLC, a franchise development and consulting company, according to a news release. He is also a franchisee and developer of franchise businesses.

“We are delighted to achieve this milestone and excited to officially launch our digital investment bank,” he said in the release. “Private markets represent a massive part of the modern global economy. We look forward to working with both the business and investor communities (worldwide) to provide streamlined access to capital and quality alternative investments.”

Ken Norensberg, managing director of Luxor Financial Group, provided professional advice and guidance to Netshares during the application process.