MoolaHoop, a rewards-based crowdfunding platform targeting women-owned businesses crowdfund their businesses has recently launched. Founded by two women, Brenda Bazan and Nancy Hayes, who will leverage the increasing power of crowdfunding to start, build or grow their business.
MoolaHoop was developed to help narrow the gap in funding available to women entrepreneurs. Women-owned businesses represent almost 30% of new startups in the U.S., yet receive just 5% of all venture capital and 12% of all institutional debt. As a result, they are smaller from the onset and grow more slowly. Capitalizing on the explosive growth in rewards-based crowdfunding, MoolaHoop is out to change this dynamic.
With offices in both Dallas, Texas and San Francisco, the MoolaHoop crowdfunding platform marks the first step in the design and development of a robust ecosystem of business services, information and partnerships – the “Hoop” – to fund and provide ongoing support to women entrepreneurs. As envisioned by company Co-Founders, MoolaHoop will grow to offer a full suite of resources to support women-owned and -led businesses, including access to equity funding, education, mentoring and skills.
The crowdfunding platform has launched with several campaigns already live on the site: The Say YES BlueAvocado/Open Arms campaign, a project by Live Worldly to expand its global fashion marketplace; a campaign to help Life Out of the Box grow its line of artisan jewelry; and Tatty Tat’s project to enable the creation and purchase of personalized temporary tattoos from mobile devices. With new projects posted weekly, MoolaHoop anticipates hosting more than 20 women-focused crowdfunding campaigns over the next few months.