Wednesday, May 23, 2012
Fundable Takes On Crowdfunding For Startups
A new startup, headed by entrepreneur Wil Schroter, has launched this week, looking to make it easier for startups to raise funding. Santa Monica- and Columbus, Ohio-based Fundable said that it is looking to provide a crowdfunding platform for "serious startups". The site allow early stage startups to gain capital from anyone, using the new JOBS Act to raise money from anyone interested in a startup, and not just professional investors and banks. The site allows startups to list a description of their company and product, detail their team, and collect pledges from potential backers, and reward those backers with special incentives--T-shirts, thank you notes, posters, products, and more--for different contribution levels.
Although the site is currently limiting itself to accredited investors, the startup said it will open to a wider audience once the new JOBS Act legislatoin is reviewed by the SEC. Schroter said Fundable is an outgrowth of his incubator, Virtucon Ventures, and has angel investors, 500 Startups Founder Dave McClure, Startup Weekend CEO Marc Nager, Second Market founding team executive Phil Reicherz, as well as venture capitalist Mark Goines of Morganthaler Ventures. on its advisory team. Schroter is a repeat entrepreneur, who founded such companies as Go Big Network, and has involvement with a number of local startups in Los Angeles.