Fundable
Fundable is a fee-based crowdfunding platform that offers both rewards-based and equity-based campaigns for small businesses..[1] The present company has no relation to the crowdfunding site using the same name and web address from 2005 to 2009.
Various consulting services are also offered to help companies establish successful fundraising strategies.
History
Fundable was launched on May 22, 2012, by Wil Schroter and Eric Corl.[2][3][4][5] It originally began as a rewards-based platform. Under this model, backers pledge money to startups in exchange for rewards or pre-orders of the goods that businesses will produce after their campaign.
An equity-based platform, launched in August 2012. Fundable was one of the first equity crowdfunding portals in the United States after the JOBS (Jumpstart Our Business Startups) Act was signed into law by President Barack Obama in early 2012.[6] Currently, accredited investors (those with a net worth of at least $1 million) are able to invest in startups on the equity portion of the platform.[7] The firm charges applicants an upfront monthly fee starting at $179 regardless of the outcome of the application.
Investors and advisors
Fundable has the support and financial backing of Virtucon Ventures, a Columbus-based investment company which is the sole investor in the firm.[8] It also has a small group of business advisors, including Mark Nager, CEO of Startup Weekend.[9]
