On Wednesday, IFundWomen officially launched its crowdfunding platform. The new portal is dedicated to women-led businesses and creative ideas that are created by women.
“The number of women-owned businesses grew 30% from 2007-2012, which means that women are majority owners in roughly 36% of all US businesses. Despite these amazing gains, women still only receive 2-6% of venture capital funding. Female entrepreneurs need to be scrappier and work harder than our male counterparts to get funded. We create companies with 50% less capital. We want to change that.”
iFundWomen also reinvests 20% of its profits directly to active campaigns on the crowdfunding portal. Initiative organizers also receive free crowdfunding coaching and expert video production.
During a recent interview with CNBC’s Squawk Box, IFundWomen’s CEO, Karen Cahn, shared details about the new platform and how she is on a mission to bridge the gender funding gap for female entrepreneur. See her full interview below.