On Monday, Kickfurther announced inventory financing on its website has surpassed $10.2 million for 288 product companies, and reportedly earned an average greater than 2% consignment profit per month on completed Consignment Opportunities.
Kickfurther co-founder and CEO, Sean De Clercq, stated:
“It’s rewarding for our entire team to pass another significant milestone. Kickfurther is a crowdfinancing solution that helps companies fund purchase orders, increase revenue, tap into new buyers and grow brand awareness all at the same time. That’s our amazing value proposition.”
Sharing details about his experience with Kickfurther, MM Local Foods co-founder and CEO Jim Mills, commented:
“As a rapidly growing company, time is our most important asset. We need to be focused on growing the business, and raising capital takes a lot of time and it takes a lot of resources. The [Kickfurther] process was a really positive experience for MM Local. We’ve been able to merge our customer base with the Kickfurther community, and we had a number of our customers participate in our Kickfurther raise.”
MM Local notably partners with family farmers to preserve surplus produce until two brands, MM Colorado and MM Pacific Northwest. On Kickfurther, the company earned Consignment Profit when its inventory sells. Kickfurther confirmed that the Consignments are NOT loans and buyers provide inventory, marketing, and sales support for businesses. They also earn Co-Op profits wen Consignment Inventory sells.
As previously reported, Kickfurther claims to be the only marketplace where people can buy inventory for brands they love and earn profits when that inventory sells. The opportunity to crowdfund inventory on Kickfurther found a unique niche due to its “easily understood” product nature and the low amount of capital needed to start earning profit in the retail market.