FundThis is launching a new “risk-free” crowdfunding platform to enable creators to raise money for new projects ranging from fashion ideas to tech.
The Boca Raton, Fla.-based company is also starting a $500,000 fund to bankroll projects that look particularly promising. FundThis wants to empower innovative creators to successfully raise more capital through end-to-end support with no upfront cost. It will compete with such rivals as Indiegogo and Kickstarter.
Applicants can apply for funding from the company’s Elite Program to put together 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 find elsewhere.
If selected to the Elite Program, each creator is given funding (at the discretion of FundThis), a crowdfunding strategist to help them 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” by functioning as 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, which makes crowdfunding more accessible and takes away the element of risk. 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 U.S. veteran- and veteran family-owned companies committed to supporting veterans who suffer from post traumatic stress disorder.
- Bowbair — Sandals with an interchangable 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.