>> MOST CROWDFUNDING websites take a cut of the action in return for hosting and marketing an individual or group’s campaign, such as opening a restaurant, filming a documentary, or establishing an urban garden.
David Moncur surveyed the landscape and sought a way to improve the odds for both aspiring business owners and their future investors. Rather than take a percentage of the entire deal (an 8- to 15-percent cut is common), Moncur, principal and chief marketing officer at Moncur Associates, a multifaceted branding, consulting, and Web development firm in Southfield, created a fixed-rate funding model.
Launched in early July, Moncur’s Funderbuilt offers startups a portal to build and market their business model — for a fixed rate fee of 5 percent of the total project or $250, whichever is less. What’s more, entrepreneurs get a dashboard that tracks their progress and offers step-by-step directions to boost interest and funding opportunities.
“Investors can also own a piece of the (prospective) company, where other crowdfunding sites provide investors with a product or a service that will come as a result of their investment, but no actual interest in the company,” Moncur says. “Our platform provides for equity-based funding.”
Drawing dozens of applicants, the site has attracted some notable attention. Fifth Third Bank said it would act as a referral source for startups and small businesses that wouldn’t normally qualify for a conventional loan. “Having a major financial institution like Fifth Third draw attention and drive traffic to Funderbuilt is a big plus,” Moncur says. “It helps substantiate everything we’re doing.” db
