The Pitch Season 2, Episode Six: Funderverse – Crowdfunding for Companies
Discouraged by the limited options available to small and medium size businesses hoping to acquire capital, Rob Leclerc, co-founder of Funderverse, has set out to create a social media platform that connects companies with investors. Mr. Leclerc hopes Funderverse will become the Facebook for companies–though hopefully he has no Winklevii twins waiting in the shadows. Through the use of company profiles, Funderverse aims to develop relationships between companies and stakeholders and foster a crowdfunding porthole for industries traditionally underserved by the investment community.
Funderverse’s first vertical, ExplorationFunder, is focused on funding natural resource projects, so as Lerer Ventures’ Steve Schlafman says, “now (his) mom can invest in a natural gas company.” But is there any consumer enthusiasm for crowdfunding $600 million natural resource projects? Is the crowdfunding movement already on its last hurrah? Watch episode six and see if Mr. Leclerc’s pitch can convince SoftBank Capital’s Nikhil Kalghatgi and Mr. Schlafman that there is space in the market for a new crowdfunding platform.