Honeycomb Credit, a FINRA-regulated funding portal, has acquired IFundWomen (IFW). Honeycomb Credit is largely focused on debt offerings, a bank replacement platform. Terms of the deal were not disclosed.
IFW is a coaching and connections platform for women that supports rewards (e-commerce), funding, and grants. IFW was founded by CEO Karen Cahn.
According to Cahn’s website, since its founding, IFundWomen has helped members raise $200 million in early-stage capital. IFW claims over 500,00 funders and founders in its network.
Cahn is expected to join Honeycomb as a member of the Board and a Principal Advisor.
Cahn issued a statement on the acquisition, describing Honeycomb as the ideal partner who shares a mission of accessing capital for ventures overlooked by traditional lenders.
“Joining forces will allow us to leverage more resources and assist a broader range of small businesses across America. I’m thrilled that IFW will continue its mission, now branded as IFW by Honeycomb Credit, supporting all entrepreneurs,” said Cahn.
George Cook, Co-Founder & CEO of Honeycomb Credit, described IFW as enabling his company to provide a unique offering to fund founders at any stage.
“This acquisition advances our collective goal of cultivating a more resilient small business ecosystem for entrepreneurs nationwide, and now we provide a complete spectrum of funding opportunities, coaching, and resources tailored to small business needs.”
Honeycomb Credit recently expanded its offering to include alternative financing tools such as online capital formation for equity funding rounds as well as revenue share options.
Honeycomb Credit reports that it has an investor community of over 25,000 and has already deployed nearly $50 million in capital to independently owned businesses.
Honeycomb has emerged as one of the top issuers using the Regulation Crowdfunding (Reg CF), which has seen an increase in debt offerings during the economic downturn.
