Fundable is a crowdfunding platform for startup companies. We help entrepreneurs find idea stage capital by presenting great ideas in front of interested backers.
Startups offer different reward incentives in exchange for support from backers. These typically include copies of the product being produced or special customized rewards presented from the founding team.
Raising money from friends, customers, investors and banks has always been a painful process for entrepreneurs.
Fundable makes the process of reaching out and raising capital far more effective. Startups can now present their ideas in a clear, public manner and solicit funding from any source for any amount.
Friends - Asking for money from friends and family is uncomfortable to begin with. Many may want to help you, but asking your cousin for his credit card for $50 is kind of ridiculous.
Customers - There may be tons of potential customers for your product, but how do you ask them to order if you don't have the product?
Investors - Finding traditional investors is hard to do, especially when you're at the very early stages of your idea. It's especially hard if you're raising a small amount of money just to get started.
Banks - Everyone hates debt, not to mention the turn down rate for business loans is nearly 90%. Most business don't have collateral and don't want to put themselves in debt to get started.
Startups now have a platform to present their ideas and solicit funding from any funding source.
Friends can easily support you with as little as $1. Calling everyone you know and asking for $50 may have been ridiculous, but e-mailing everyone you know and posting to your Facebook account is easy for everyone.
Finding customers who would support your idea before it's built is now an option. What better way to fund your startup than finding early adopters who will help provide the capital you need to launch.
Even attracting investors is easier now that you have a platform to show them how many people love your idea.
With the passage of the JOBS Act (yay!) investors will be able to back startups in exchange for equity. While the JOBS Act has passed, the SEC still has until the end of 2012 to provide the exact rules on how online equity crowdfunding will work.
For the time being accredited investors are welcome to contact startups directly as they always have.
Once the SEC provides the final go-ahead on equity investing, startups on Fundable will be able to raise both reward-based and equity-based capital on our platform.
We're a small group of 20 folks from Columbus, Ohio and Santa Monica, California that are ridiculously passionate about helping startup companies.
Our team has personally worked with thousands of entrepreneurs to help them write business plans, pitch investors, and raise capital.
Our Founder, Wil Schroter, has launched 8 startup companies over the last 18 years (he's old), the last 3 of them venture backed by over a dozen venture firms including Founders Fund, Bessemer, Charles River Ventures, First Round Capital, SV Angel, and Draper Fisher Jurvetson.