01/18/2024
With an unwavering passion for my business, I never imagined launching a crowdfunding campaign. It seemed impossible just three years ago. My first encounter with crowdfunding was through a text message seeking assistance on GoFundMe. I discovered there are countless crowdfunding platforms like Kickstarter and Indiegogo. These platforms operate on a reward-based system, where founders offer something in return to their investors. For example, a new belt company might send investors a belt, with better perks for those who contribute more.
I also stumbled upon equity crowdfunding, which has over 1,900 companies. However, most of them are for private companies with substantial funding. Regulation Crowdfunding (Reg CF) is part of the Jobs Act passed in 2016. It allows creators and entrepreneurs to secure investments from a crowd of investors for as little as $20. This method provides early-stage companies with greater access to capital. If the company succeeds, investors can enjoy impressive returns. That's why we chose Wefunder for our SavCoins campaign. Investors on Wefunder are motivated by more than just monetary gains; they want to assist founders and contribute to something greater.
Currently, we are eight weeks into our campaign and have raised over $12,000. However, we still have a long way to go to qualify for the next round. Wefunder requires a minimum raise of $50,000 or at least 10% of the total campaign goal. Having a lead investor who contributes a minimum of $5,000 is crucial. It's important to understand the payment process when investing in an equity crowdfunding campaign. Making a reservation using a credit card carries no risk, as the charged amount will be verified and returned. If you choose ACH or wire transfer, the funds will be held in Wefunder's cash account until the goal is reached. If the goal is met, Wefunder will reach out to convert the reservation into an investment.
The primary target goal for founders is the second community round, which in our case is $500,000. This is where the public, angel investors, and venture capitalists are invited to participate. There is no risk for investors. If the company fails to reach its goal, all invested funds will be returned. We are currently testing the waters, so please join us in being part of something extraordinary.
Visit us at Wefunder.com/savcoins.
Thank you,
Austin
Disclosure: This is for informational purposes only based on
Invest as little as $100 in startups and small businesses. Wefunder is the largest Regulation Crowdfunding portal.
