UpTech 6 company, CrownMob, raises over $30,000 through crowdfunding.
When it came to raising money post-UpTech, CrownMob Co-founders, Ricardo Grant and Jordan Crone decided that since they are building a company targeting African American consumers why not give the community an opportunity to invest? To do this, CrownMob partnered with Wunderfund, a local startup lead by UpTech Mentor, Marvin Abrinica.
Wunderfund is an investment crowdfunding platform licensed by the SEC and FINRA that allows companies to raise up to $1M in capital from the crowd. Everyday investors can invest for as little as $100.
“What Marvin and his team at Wunderfund are doing was very appealing to us. We realized that not only were they helping companies get funded, they were also educating the community on how to invest in great ideas, without needing to be accredited investors. As the first tech startup to use their platform, we were excited to pave the way for other tech companies in StartupCincy to fundraise this way” says CEO and Co-founder Ricardo Grant.
Of the nearly 90 investments made in CrownMob, 90% of them have been from the African American community. “Raising that kind of money in a short amount of time from the very people you are serving speaks not only to the validation of our product but the need in the market. That is beyond powerful.”
CrownMob launched its platform in January of 2018 and is now focused on marketing and getting their platform in front of consumers. “The remainder of this year is crucial to our development. A huge thank you to our supporters who have given us the additional capital to penetrate the market.”
CrownMob is the marketplace for Black Hair Care. They offer a variety of products from weaves & extensions, natural hair care products, and beard care. Through technology, they eliminate the rocket science to the underserved Black Hair Care industry.