FundedByMe

Funded By Me
Founded 2011
Headquarters Stockholm, Sweden
Industry Finance
Website www.fundedbyme.com
Type of site Crowdfunding
Current status Active

FundedByMe is a crowdfunding portal based in Stockholm, Sweden. The company has been reported as an early entrant to the worldwide crowdfunding market and is particularly active in Scandinavia where the company "has moved to the center of the Swedish and Norwegian speaking crowdfunding market by being the largest hub where musicians, artists, and entrepreneurs can post their projects in Swedish and Norwegian, giving other products the benefit of an interested local network".[1] FundedByMe's native language is English, and site users can choose to list their project in any of supported language.

The company was founded in April 2011.[2] In September 2012, the company launched FundedByMe Equity, an equity crowdfunding portal in addition to its donation crowdfunding portal.[3]

Summary

Fundedbyme is Sweden's first crowdfunding platform. They provide rewards based crowdfunding and equity crowdfunding for entrepreneurs. They began the equity crowdfunding in October 2012 and started with equity crowdfunding in Finland in January 2013. They use an all-or-nothing platform. Fundedbyme was founded by Daniel Daboczy and Arno Smit. They have raised more than $1 million for 255 projects as of March 2012.[4][5][6][7]

Funding model

The FundedByMe portal operates on the "all or nothing" funding principle, where investments are made on a pledge basis and pledges are not released unless the project meets or exceeds a pre-set funding target.[8]

By February 2012, FundedByMe had reportedly conveyed over USD $1 Million to "mostly smaller projects" [9] to launch businesses, fund equipment purchases, or back project concepts. The FundedByMe project reportedly raised its own launch capital via crowdfunding.[10] The company has listed various cultural projects[11] and also "includes journalism as one of their categories"[12] with a focus on projects from countries in Africa, Europe, Asia, and the United States.

Crowdfunding process

Projects or startups seeking funding are submitted to FundedByMe or FundedByMe Equity for review. If the project is accepted, it is listed on the portal and eligible for funding. "in the premise that they will receive something in return if the project hits its minimum target".[13] This "social media" model of funding enables individuals to take part in other people’s ideas in a new way – and invest money in them if desired.[14]

Partners

In 2012, FundedByMe entered a partnership with Internetfonden to support the launch of technology based startups in Sweden.[15]

See also

References

This article is issued from Wikipedia - version of the Saturday, August 22, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.