By Lisa Walls-Hester on 23rd February 2017
Fund&Go wants to revolutionise the crowdfunding industry and claims its product, which partners existing crowdfunding platforms, will reduce fraud, scams and failed management in crowdfunding campaigns.
The platform will ensure entrepreneurs provide a detailed roadmap about how they plan to turn their idea into a product and eliminate the incidence of campaigns that do not live up to their promises to entrepreneurs or that spend funds negligibly.
The project’s fund-flow will be managed in a controlled, supervised manner, allowing backers to oversee the project’s progress and make sure their money is properly spent.
The company says “The market is already packed with so many crowdfunding platforms. That’s why we do not aim to create another one, but rather make a product that expands and complements existing ones.”
It claims it is adding another layer of safety and interaction between backers and entrepreneurs and says that investors who back campaigns that are managed by Fund&Go will enjoy a higher degree of certainty that the projects will succeed.
Fund&Go has its own campaign currently running on Indiegogo, it wants to raise $100,000 but says its campaign is not just about raising funds. It wants to amass a crowd of supporters to show a demand for its solution which will, in turn, persuade existing crowdfunding platforms to incorporate Fund&Go into their systems.
The raise is currently four percent funded with two months left to run.
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.