Community Investment Corporation (CIC) has formed a partnership with the equity crowdfunding platform, Wefunder, to support early-stage businesses with equity funding.
For those unfamiliar with Wefunder, imagine Kickstarter, but for equity financing. It is a marketplace, where entrepreneurs and founders can pitch their business ideas to a network of over 300,000 online investors in order to raise money for their businesses. In the simplest terms, the investors get part ownership of the businesses they choose to invest in.
Not only is it a place for founders and entrepreneurs to seek funding, it is also a place where everyday people can invest in local businesses. Right now, one of the only ways to support a local business is to buy their service or product (as with a local restaurant or retailer). Through Wefunder, people in southern Arizona can invest as little as $100 to support a local business by owning a part of it.
For more information on CIC’s new partnership with Wefunder, click here.
In the wake of COVID-19, Wefunder is offering a Crowdfunding Loan Product click here to read our blog post with those details.
Why go through Community Investment Corporation’s partnership with Wefunder?
Wefunder normally charges 7.5% of the total funding (only if you are successful and meet your goal), but they will charge you only 6.5% if you come through CIC.
We already helped a company to get on Wefunder’s site.
Go for Vertical, a local company that we continue to work with, successfully applied for Wefunder and is now highlighted on their platform. We can give you tips about the process and putting together a successful funding campaign.
Free marketing and exposure.
Wefunder will be creating a local landing page for Tucson businesses, and we will be promoting the local landing page in the community, now and into the future. This will set you apart as we try to build a means for regular Tucsonans to support budding, innovative local businesses through equity investment. There is already a powerful movement around supporting local businesses and local economies – this is one of the newer tools and next steps in that movement (but doesn’t prevent you from raising money from around the world).
We have direct communication with Wefunder
We’re here to help you with Wefunder because we want your business to succeed and Wefunder is here to help CIC and you because they are committed to seeing investment in Tucson grow through our partnership!
Wefunder does a WAY better job of describing the in’s and out’s of the transaction, but suffice it to say that over three hundred startup and early stage businesses have raised over $110 million in equity investments since the start of Wefunder (and Venture Capitalists have invested an addition $2 billion in the companies in Wefunder’s portfolio.
If you are a founder, entrepreneur, or business owner interested in soliciting investment through CIC’s partnership with Wefunder, please contact Danny Knee at (520) 529-1766 x203.
Equity investments are generally longer-term investments with the terms for the investors return on investment determined at the time a business is allowed up on Wefunder’s site. Wefunder conducts due diligence before allowing a business to solicit investments on its platform. CIC has no input or control of that process or the decisions Wefunder makes. CIC can in no way guarantee inclusion on the website or success of fund raising through Wefunder.
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