Crowdfunding platform BoostUp has raised $1 Million from Detroit Venture Partners and Cornerstone Opportunity Partners according to a report from PitchBook. The platform enables users to crowdfund or get “monetary boost” for significant purchases such at automobiles, homes and other major expenses. The site is geared to allowing friends and family to help in paying towards larger purchases.
BoostUp (formerly Motozuma) was founded in Chicago by CEO John Morgan. In August of 2013, John brought Motozuma to Detroit to join the Detroit Venture Partners portfolio of companies. In October of 2013, he relaunched as BoostUp to create a new way for consumers to save up for ALL of life’s big purchases in addition to a new vehicle.
Morgan thanked their ability to relaunch the website and their brand from Motozuma to BoostUp by acknowledging the support and commitment from Dan Gilbert, Josh Linkner, Tom LaSorda, Jake Cohen, Patrick Sullivan and Michael Gruber.