20 years ago, an entrepreneur who was in need of funds for its new venture had just two options: paying a visit to the bank and asking her friends and relatives. It was not an easy task to convince any of them about funding the new business but it was an easy choice.
Today, fundraising is a totally different game. Hundreds, if not thousands, of professional investors are looking for the next unicorn while all countries and regions have established many public funding programmes targeting different types of projects, companies or even founders.
Entrepreneurs need to spend a massive amount of time in identifying, researching, assessing and comparing the many different funding options. However, the information about these funding options is scattered, fragmented, limited and biased. Funny enough, while investors have many tools and platforms to research private funds – Pitchbook, CBI Insights, etc, these tools are not well suited to the needs of startups.
Information about funding options is scattered, fragmented, limited and biased. Startups struggle to obtain insider information about public funding programmes, funds and investors
At the same time, we witness how the number of VCs is exploding at a 17% annual growth. Tenths of new VCs are launched every month. And while these VCs perform extensive -and exhausting- due diligence processes on startups, startups have access to very little information about VCs.
FundingTrip, the first online platform to provide insights and transparency about all funding options for startups, either public or private
That’s why we have created FundingTrip, the first online platform to provide insights and transparency about all funding options for startups, either public or private. FundingTrip aims to be the leading portal with information about public and private funds globally by not only leveraging the latest NLP and web-crawling technologies, but also and even more importantly, by giving the stage to the entrepreneurs, who will be able to give feedback about their investors and funders.
It’s January 2022 and we have just started.