November 7th, 2013 #BayArea Inaugural FinTech Seminar - Crowdfunding Update

On Thursday November 7th, 2013, OLC attended NewFinance's first San Francisco meetup at WeWork. Three companies focuses around crowdfunding presented their companies to the crowd.

CEO and founder, Guillaume Lebleu, built a complete service dedicated to food businesses for crowdfunding. How the platform works is, a business can set up predetermined amount of money they are willing to be funded (i.e $50, $100, $250, etc) and the user can choose the amount they wish to crowdfund. This money goes to the business.

This allows the business to use that money to make their business better—that might be buying more equipment or hiring more people to fit the needs of the current business.

On the consumer end, after you have given your money to the business you go into the store and the business charges your account until all the money you crowdfunded is gone.

“The concept in a nutshell: it’s like banking without the bank,” said Guillaume Lebleu.

“Back 50 years ago, we all used to know our neighbors, I think we’ve lost it here in the US. I want to bring it back,” said David Brown, CEO and founder, of Fund our Community.

This is what Fund our Community is all about. It is like the kickstarter but for community projects. You create your project on their platform and engage your community asking for donations to help fund it. You have to set a required amount of money and you have about 60 days to collect these funds. No money gets released unless the goal has been met.

This is a nontraditional way of raising money for a great community project.

Nav Athwal, the CEO of RealtyShares was excited to talk to us about his recent venture. Realty Shares is a platform where investors can invest in real estate, helping people get their homes. This also allows them to diversify their portfolio.

The investor will receive monthly interest payments each month. This is how they make their money back. All the while, the individual or family gets to live in the house they wanted to buy. It’s a win-win for everyone.