What is Crowdfunding?
The practice of funding a campaign or venture by raising many small amounts of money for a large number of people, typically via the Internet. Crowdfunding is a way for people, businesses, and charities to raise money.
Benefits of Crowdfunding
Reach – By using a crowdfunding like Merofund, you have access to thousands of accredited investors who can see, interact with, and share your fundraising campaign.
Presentation – By creating a crowdfunding campaign, you go through the invaluable process of looking at your business from the top level—its history, traction, offerings, addressable market, value proposition, and more—and boiling it down into a polished, easily digestible package.
PR & Marketing – From launch to close, you can share and promote your campaign through social media, email newsletters, and other online marketing tactics. As you and other media outlets cover the progress of your fundraise, you can double down by steering traffic to your website and other company resources.
Validation of Concept – Presenting your concept or business to the masses affords an excellent opportunity to validate and refine your offering. As potential investors begin to express interest and ask questions, you’ll quickly see if there’s something missing that would make them more likely to buy in.
Efficiency – One of the best things about online crowdfunding is its ability to centralize and streamline your fundraising efforts. By building a single, comprehensive profile to which you can funnel all your prospects and potential investors, you eliminate the need to pursue each of them individually. So instead of duplicating efforts by printing documents, compiling binders, and manually updating each one when there’s an update, you can present everything online in a much more accessible format, leaving you with more time to run your business instead of fundraising.
How it works?
Step 1. Simply create a campaign by clicking "Create project" or "Start Merofund" on the home page.
Step 2. Fill out the necessary details on the forms including the Goal Amount and Project type.
Step 3. Download the Offer Document Checklist file (create your own "Offer letter document" according to the guidelines).
Step 4. Upload your Offer letter Document. (PDF)
Step 6. Create Project.
Step 7. Merofund will review your project file and create Project once it's approved. It usually takes 2 days.
Step 8. Share your Project campaign and raise Fund.
Step 7. Once you reach the Goal amount, withdraw the fund.
- You can provide the updates and FAQ for your project so people can see what's going on.