Munich-based WeOwn, a startup that specialises in providing technology for financial services and operates via offices in Bristol, Munich, Sarajevo and Lichtenstein has now announced the launch of MoneyTurtle. It is a mobile-first platform meant for companies of all sizes and shapes that eye to raise capital. This app has been launched for companies all over Europe.
Modernises funding process
MoneyTurtle modernises the funding process for companies by removing the embarrassment in borrowing funds from family, friends, early investors and loyal customers for the sake of business. The app lets users, be it SMEs, individuals or larger corporates to register their business, define the project they are working on and invite their network to pump in their investment, all in a few steps. As the process is simplified, founders can concentrate on building the offer rather than worrying about the time-consuming processes involved in fundraising.
MoneyTurtle is free to use and charges only 2.5% after the capital injection is completed. There is no soft-raise limit as small injections can be the lifeline for SMEs to be successful in difficult times. Notably, MoneyTurtle is running a launch promotion wherein the first 100 raises will be interest-free.
Sascha Ragtschaa, WeOwn’s Co-Founder and CEO added, “The climate is tough, but there are some brilliant businesses and projects happening, so at no time more-so than now has it been as imperative to kickstart businesses and projects, boosting livelihoods as they go! We’re also adding professionalism to a process that’s a little bit sensitive. In effect, Money Turtle adds a layer of control to a fundraising initiative that is usually done on a piece of paper or just a handshake. In a time where businesses need more support than ever, Money Turtle can be exactly the tool people need.”
Eradicates disputes between parties
On agreeing for the investment, MoneyTurtle creates a programmable smart contract and a physical contract (PDF). These are generated and linked between the fundraiser and their associated supporters. Eventually, it will let both parties to have a digital and physical contract that will eradicate the chances of any disputes that may arise between them.
Within the MoneyTurtle app, fundraisers can create milestones and let real engagement with their growing communities of investors. They can engage by highlighting progress milestones, sharing any news, successes and updates on what is happening with the capital the Community has entrusted in the company. Interest levels, repayment plans and schedules can be defined by the ‘raiser’ before investment journey and all milestone updates are shareable within the app.
The post WeOwn launches MoneyTurtle, a new fundraising solution for SMEs appeared first on UKTN (UK Tech News).
