iFundWomen, a crowdfunding platform for women-led startups and small businesses, with a pay-it-forward model, crowdfunding coaching, and video production services, has reportedly teamed up with StartUp PHL to launch in the city of Philadelphia. The funding portal, which was launched in 2016, is on a mission to help drive funding towards female entrepreneurs and close the gender funding gap in venture capital. iFundWomen previously reported:
“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. The launch in Philadelphia comes less than six months after iFundWomen teamed up with the City of Boston. According to Generocity, iFundWomen Philadelphia campaigns that have been fully funded will be eligible to participate in an exclusive pitch competition to earn some venture capital funding this upcoming spring.
