A platform that democratizes access to capital for small businesses via crowdfunding
Startups founders don't have those connections or profits to get funding and especially in a year full of uncertainties many big investors are scared to invest in small businesses. And not all startups makes million dollars in their beginning years.
Meanwhile, most people are not as rich but want to invest. So we want to build a platform that benefits color businesses (because majority of them are quite small) and Investors both. Startups put their video pitches to help make investor a decision on the startup and investor can make an appointment with the business to know about their future goals before investing.
What it does
fundIt is a an app for small businesses to get crowdfunding by retail investors for equity.
- Users can login and authenticate their credentials via Apple/Google/Email
- Startups can post data such as PDFs, Images, and Text to supplement their crowdfunding campaign and help investors to make investment decisions
- Investors can browse all campaigns via a Tab view
- The most unique feature of this platform is the highlighted businesses of the month. Underrepresentation and discrimination is a huge problem in business investments so we want to represent those businesses by having a separate page for them.
- Investors can schedule a virtual meeting with the representative of startup that will help investor know about the future plans of the business
- Investors can pay as little as $10 for a share in the startup’s equity offered in the crowdfunding campaign
- Investors can view their past investments & their total investments on a profile view
- Startups can checkout the funds raised from the crowdsourced campaign via Apple/Google Pay to Apple/Google Wallets in a virtual FundIt card
How I built it
- Flutter: Dynamic Mobile Applications that runs both on Android and iOS.
- Firebase: For authentication
- Square: Payment Processing
- SQL: For storing the Business and Investor Information
- UiPath: For automating the process for investors displaying startups according to their search history
- Retail investors - who will be investing in the companies that are listed on our platform
- Startups - they sign up for crowdfunding in exchange for equity.
Challenges I ran into
- Payment Processing using Square
- Automation with UiPath
- Making dynamic user interface for startup took some time to apprehend
Accomplishments that I'm proud of
Able to build a working platform with a great team work in such a short time.
What we learned
- Learned how to divide tasks as a team and be accountable for it, setting report time
- How to do payment processing
What's next for fundIt
We are planning to reach small businesses and small investors who could benefit from each other. Small businesses by getting money and small investors by getting returns on their investment with as little as 10 dollars.