Startup Spotlight: iFundWomen
Startup Spotlight: iFundWomen
Meet Kate Anderson, Operations Director of iFundWomen, a crowdfunding platform built exclusively for women-led startups and small businesses.
GH: What is iFundWomen?
iFundWomen is a crowdfunding platform built exclusively for women-led startups and small businesses. Our mission is simple: To close the confidence and funding gaps women face in getting their businesses off the ground.
GH: What was your Eureka moment: how did iFundWomen get started?
Our team has been running startups for many years, and we know first-hand what it’s like being an entrepreneur. We have ridden the rollercoaster. Along the way, we have learned how to successfully crowdfund, and we created iFundWomen so we could not only pay our information forward but also create a community of women who are sharing their knowledge and starting smarter businesses.
GH: How did you build/ are you thinking about building your team?
We built a team of really dedicated, hard-working and efficient women who work tirelessly everyday to get female entrepreneurs funding for their businesses.
GH: What is your company philosophy driving your company culture?
Lots of people ask: Why did you create iFundWomen when there are so many other crowdfunding platforms out there? What’s different about it?
- We are exclusively for women-led startups and small businesses.
- We have a unique pay-it-forward model where 20% of our standard fees are directly reinvested into live campaigns on the site, creating a virtuous cycle of funding for all of our participating entrepreneurs.
- We offer FREE crowdfunding coaching for anyone who needs help.
- We have a video production team who can produce a gorgeous crowdfunding video for you, quickly and inexpensively.
- We have an Accelerator Pool of funding that goes to entrepreneurs with lower-income FFFs.
GH: What did you learn from your first customers?
We learned that preparation, grit and a strong network are key to a successful crowdfunding campaign. The early campaigns that got funded on iFundWomen were thoughtful in their planning and strategy, tireless in promoting their campaigns, and stopped at nothing to reach their goal.
GH: What has the Boston ecosystem provided you?
Working with the City of Boston has been amazing. Kara Miller’s team at We-Bos and Megan Costello and Brenna Callahan in the Office of Women’s Advancement in Mayor Marty Walsh’s Office have all been incredible partners in promoting iFundWomen Boston. Boston was a natural partner for iFundWomen because it has a tremendous pool of female entrepreneurs and a Mayor who is committed to advancing and promoting women.
GH: What was the best thing that happened to you last year?
Our female entrepreneurs raised over $1.2M to launch and grow their businesses. We launched iFundWomen with a desire to close the funding gap for female entrepreneurs. When we launched, there was no community, no guidance, no toolkit or roadmap. We have created a community of inspiring female entrepreneurs who are taking their businesses to the next level thanks to iFundWomen. Whether that next level is launching their MVP or opening the doors to a new location – these entrepreneurs are now a part of our community and are committed to helping us advance our mission by paying forward what they have learned to the women who follow in their footsteps.
GH: What does the future hold for iFundWomen?
We started iFundWomen, a fundraising ecosystem for female entrepreneurs, to give women a space to bring their dynamic innovations to life. In the future, we hope that every female entrepreneur considers iFundWomen to be the first stop on her fundraising journey. Crowdfunding is a great way to test product market fit, create a community for your brand and raise much needed capital to help launch or grow your business.