Results of a client survey conducted inventory crowdfunding marketplace Kickfurther suggest participating brands are satisfied with their experience on the platform.
Kickfurther connects consumer product companies in search of capital with individuals interesting in micro-retail by providing the latter with sales opportunities. Businesses post consignment opportunities and select the desired inventory amount, buyer consignment profit and the estimated amount of time it will take to sell that inventory based on past history.
The average respondent had been in business for seven years. Two out of three said they used the site because they are not required to give up equity, while 78 percent said they would rather pay a community instead of a bank. Common reasons for seeking funds included product launches and large investors purchases.
“It’s an age-old problem for growing product companies,” Kickfurther cofounder and CEO Sean De Clercq said. “Kickfurther allows companies to fundraise from the people who already love their business. With values aligned, brands and their fans work together to sell even more.”
Since launching in 2015 Kickfurther has funded $13.5 million of inventory for 330 companies across 408 consignment opportunities.