One of the only crowdfunding platforms to offer both rewards and Equity based campaigns
Unique service fee structure with a flat monthly rate
Heavy emphasis on business crowdfunding
Fundable is somewhat of a hybrid crowdfunding site because it offers campaign creators the choice of either a rewards-based program similar to what you would find on Kickstarter or Indiegogo, or alternately an equity-based system where backers are actually buying ownership in your company. I am not aware of any other crowdfunding platform that offers this same flexibility — all others are either one or the other.
It’s the equity campaign option that really sets the tone for the platform however, which results in a very business oriented set of campaigns. Along with the typical campaigns raising funds to take a specific product into production, you’ll also browse campaign listings for wineries, hotels, and other businesses. I enjoy browsing the various options available because until equity crowdfunding became mainstream there was no easy avenue for me to buy-in to these sorts of businesses. That said, Fundable’s equity campaigns are only available to what are called accredited investors at the moment (minimum income or net-worth). That will all change once the JOBS act comes to fruition, at which point anyone will be able to invest.
Fundable claims to have raised over $235 million to date for the campaigns it hosts. This is a respectable number considering it only received a fraction of the traffic that larger crowdfunding sites receive. The UI is clean and easy to navigate, and the campaigns are well-presented.
Yet another unique aspect of Fundable is their fee structure. Instead of taking a cut of the funds raised by a campaign (typically 5%), Fundable charges a flat $179 per month to host a campaign. This is obviously quite a discount to what the fee would be on other crowdfunding sites when raising any significant amount of money. There is still an additional 3.5% transaction fee however to cover the costs of there merchant processor, WePay.
Now It’s Your Turn
What do you think of the Fundable crowdfunding platform? Is Equity crowdfunding something you’ve done in the past or would consider? Why or why not? Let me know in the comments below!