Crowdfunding is catching on in a big way in the consumer space, as platforms like Kickstarter and Indiegogo have provided new ways for people to back promising projects. But in the startup world, funding is still largely done the same way it has been for decades. A company called WeFunder is aiming to change that, by providing a platform that could make investing even small sums of money into a startup a reality.
Last year, WeFunder dogfooded its product to raise its own funding round, collecting more than $500,000 from about 60 investors. Nihal Mehta, Jim Pallotta, Dharmesh Shah, and Bill Warner were among those who participated, but the company also received funds from a bunch of unaccredited investors. Now the company is looking to make its platform available for other startups hoping to raise funds — and not just from your usual roundup of Silicon Valley VCs.
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