via GrowVC
Kiva is p2p-lending site that facilitates loans between lenders in wealthy countries and entrepreneurs in developing countries.
Now a new startup aims to bring a similar model to startups in the developed world but with an investment focus. The idea here is to fix the current inefficiencies of private seed funding for web and mobile companies, especially in markets outside of the hothouse that is Silicon Valley (i.e. Europe and Asia).
Grow VC is a new community funding model for technology startups. Here’s how it works: Grow VC will pool 75 per cent of membership fees into a community fund that gets invested back into ‘promising startups’ which are members of the platform. The fund is managed by Grow VC but all the investment decisions are left to members who determine how to invest their portion of the fund into other startup companies that they feel have the most potential. The most successful decision makers get financially rewarded when the community fund begins earning a return on investment. So, if you promote the best companies you make moola.
Joining Grow VC, and the basic features such as building a person profile, are free. Premium features come with subscriptions ranging from $20 to $140 per month, depending on how much money the startup company is seeking or how much the investor is looking to invest. For unlimited service investments, the monthly subscription fee is $90 per month. The fund is aimed at startups that need $10,000 to $1 million USD.
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