FundThis creates a ‘risk free’ crowdfunding platform
By DEAN TAKAHASHI for Venture Beat
Fundthis is launching a new “risk-free” crowdfunding platform to enable creators to raise money for new projects, ranging from fashion ideas to tech projects.
The Boca Raton, Fla.-based company is also starting a $500,000 fund to bankroll some projects that look promising. FundThis wants to empower innovative creators to successfully raise more capital through end-to-end support at no upfront cost. It will compete with rivals such as Indiegogo and Kickstarter.
Applicants can apply for funding from the company’s Elite Program to get them the resources to get a campaign off the ground. The idea is to give the Elite Program members guidance and support that they can’t get elsewhere.
If selected to the Elite Program, each creator is given funding (at discretion of FundThis), a crowdfunding strategist to map out what success looks like, an in-house graphic designer to create dynamic assets and make the campaign look beautiful, a dedicated publicist in charge of pitching the press and a social ad expert (and ad spend) to ensure the campaign is seen by all appropriate audiences.
“To raise a million or even a hundred thousand dollars in 48 hours doesn’t just magically happen,” said Felix Hartmann, CEO of FundThis, in a statement. “To do so, the creator must plan, execute, promote and launch with a strategic plan in place – we provide them with these tools to achieve success.”
The Elite Program allows FundThis to have “skin in the game” with their creators, thus being a true partner in the process. Chosen creators are not charged for the services provided in the Elite Program unless they reach their funding goal, making crowdfunding more accessible, affordable and risk-free. If creators in the Elite Program reach their funding goal, FundThis collects a 5 percent Platform fee and a 7 percent Service fee. Non-Elite Program campaigners are only charged the 5 percent Platform fee.
“After the campaign ends, the support doesn’t,” said Anthony Perera, cofounder and chief operating officer of FundThis, in a statement. “We provide successful campaigners with introductions to key partners in distribution, manufacturing and more. All these initiatives allow backers to invest confidently, they’ll receive their reward and their support is helping to fund a viable product, company or artist.”
FundThis’ first campaigns include:
- Inside Pocket – Attractive hoodies with an inside pocket that holds smartphones to keep users present and safe.
- American Warrior Whiskey – Hand-crafted whiskey made exclusively by US veteran and veteran family owned companies committed to supporting veterans who suffer from post traumatic stress disorder.
- Bowbair – Sandals with an interchange top strap (mix and match colors) that can be decorated with accessories.
- Goze — First and only line of antimicrobial, sound amplifying smartphone cases.
Ky Rodgers – Aspiring small-town American singer-songwriter, musician and producer from Ringgold, Georgia.
- Holidead – Zombies meet bikinis in this comedy featuring four British students on spring break in Croatia.
- Jetties – An all-in-one bag, pillow and towel with hidden zippered pockets to keep belongings safe – the perfect beach or pool accessory.
First appeared at Venture Beat