Fundable

Fundable is a fee-based crowdfunding platform that offers both rewards-based and equity-based campaigns for small businesses. Fundable has funded businesses from various industries including health & beauty, fitness, technology, and food & beverage. Fundable has no relation to the crowdfunding site using the same name and web address from 2005 to 2009.

Companies are charged $99 to $299 per month to host a fundraise on Fundable. Various consulting services are also offered to help companies establish successful fundraising strategies.

Fundable was launched on May 22, 2012, by Wil Schroter and Eric Corl. Fundable originally began as a rewards-based platform. Under this model, backers are able to pledge money to startups in exchange for rewards or pre-orders of the goods that businesses will produce after their campaign.

Shortly after launching Fundable, Schroter and Corl began working towards building an equity-based platform, launched in August 2012. Fundable was one of the first equity crowdfunding portals in the United States after the JOBS (Jumpstart Our Business Startups) Act was signed into law by President Barack Obama in early 2012. Currently, accredited investors (those investors with a net worth of at least $1 million) are able to invest in startups on the equity portion of the platform. Currently Fundable charges applicants an upfront monthly fee starting with $179 (not prorated) regardless of the outcome of the application. This model is different from, for example SeedInvest.com which charges a percentage of the raised funds.

Fundable has the support and financial backing of Virtucon Ventures, a Columbus-based investment company. Virtucon Ventures is currently the sole investor in Fundable.

Fundable also has a small group of business advisors, including Mark Nager, CEO of Startup Weekend.

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