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Using Crowd Funding to Fund your Business

Updated on January 18, 2015
Don't let  opportunities pass you by. Exhaust all options and keep pushing !! Start that business today !
Don't let opportunities pass you by. Exhaust all options and keep pushing !! Start that business today !

Using Crowdfunding to Fund Your Business

Sohaib Zahid is Vanhawks's CEO, a start-up that is re-defining the bike for the contemporary consumer. Consumers today get locked in congested cities, and this company plans to help their customers deal with this annoying situation. Sohaib Zahid attended Lakehead University as well. Clients of Vanhawks will be able to enjoy a high-tech ride at a low price. The company has also won an award for the best initial design in the Bike Expo in Germany.

Vanhawks will connect a carbon-fiber bikes to your phone via Bluetooth receving any feedback for safety. In addition, Vanhawks manufactures really sexy bikes, which the firm considers as the sexiest in the market today. Vanhawks used Kickstarted to get their funds, and the company headquaters is located in Toronto, Canada. The firm is not only creating a cool bike, but they are building a lifestyle brand that is taking the bike industry by storm.

Chez Brungraber

Chez Brungraber is an American entrepreneur and a person who is very passionate about traveling, botany and outdoors. She loves traveling for both fun and work. She run a campaign to fund her project in Kickstarter in 2014 to develop a product called HOBOROLL. She works with a team of 3 people generating revenue of around $5000 after she launched this campaign to get funds for her project.

HOBOROLL is a great sack for the contemporary adventurer who wants to keep all his or her items organized while on the go. People can access these items easily and quickly from either end. In addition, two compressed straps are designed to save space inside the sack. Chez Brungraber used crowdfunding as a means to raise money at the right rate, meaning even better than the traditional loan, though it might not be possible at all times. She loves the fact that tons of people were excited about this new product.

Crowdfunding Sources

- Kickstarter. Kickstarter is truly a global crowdfunding site based in the USA. The firm loves to bring any creative project to life, as it is the firm's mission. Around six million donors have pledge to give over $1 billion to fund creative projects such as comics, stage shows, films, music, and video games projects. People are offered either special experiences or tangible rewards for their pledges. The history of this movement dates back to the arts patronage's subscription model, which was used by artists to fund their projects in the past. Perry Chen and other two entrepreneurs started Kickstarted in 2009. Times magazine called Kickstarted one of the best inventions in 2010. Kickstarter's headquaters are based in New York, though the firm has many offices in other parts of the world such as Norway and United Kingdom.

- Indiegogo. Indiegogo is an American crowdfunding firm based in California, United States. This site is available in a wide array of languages including Spanish, French and German.Indiegogo is a pioneer in the crowdfunding industry, as it is one of the first sites created exclusively to deal with this new fund-raising method. People can use Indiegogo for a wide range of projects such s charities, new ideas, or any start-up company out there. Anyone can amplify their goals by using Indiegogo as a funding platform to make things happen. Around 8 million people visit Indiegogo each and every month, which is awesome.

- GoFundMe.GoFundMe is a crowdsourcing platform based in San Diego, California, United States. People can raise money from almost any purpose including illnesses, accidents and celebrrations. Brad Damphousse and his friend Andrew allester started the firm in 2010, and both of them have been involved in entrepreneurial project in the past. People can use GoFundMe and build their very own site to raise the funds they need quickly. Members can upload photos and videos, enter the amount of funds they plan to raise, and the reason why they want to raise money. People can then share their projects via Facebook, Twitter, and other social networking sites. Donors can track how people use their funds after funding a project. Donors can also leave comments on the sites of the projects they support. GoFundMe makes money by deducting a transaction fee of 5% from every donation any user gets. In addition, GoFundMe will not charge a single cent if a user does not get any donation. Entrepreneurs that need money to fund their businesses can also user this crowd funding source.

Have you considered crowd funding to fund your business?

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