BC Business
FrontFundr
We take a look at some startups shaking up their industries.
We’ve long been intrigued by the Canadian crowdfunding startup FrontFundr. The Vancouver-based platform promised to revolutionize investing when it was founded in 2013, and some would argue it’s done just that. Since then, the company has built up a community of over 34,000 users, run more than 100 successful funding campaigns and helped businesses raise more than $120 million.
With the recent announcement of a certain B.C. company hitting the platform (more on that later), we thought we’d take a look at three local businesses that are currently trying to raise money on FrontFundr and analyze their chances.
The sleep market seems overly competitive, especially in Canada, where various mattress companies attempt to bounce each other out. But Victoria-based Resthouse—which landed on FrontFundr last month—strives to consider each sleeper’s “unique personal needs.” The company offers an “ecosystem of sleep essentials,” which include its own in-house brand of Kakūn mattresses, pillows, comforters and toppers, as well as an assortment of ethically-sourced blankets, duvet covers and robes from brands like Coyuchi, Obasan, and Holy Lamb Organics.
Chances of getting fully funded: Resthouse is currently at just over $185,000 raised from only four investors. Not bad. It has a long way to go to hit its goal of $500,000, but it also has 68 days left to do so. It likely gets there.
It’s not every day you stumble upon a hot sauce company owned and operated by a rock musician. Today is that day. The eponymous Hetherington fronts the Vancouver band Art of Dying while also finding time to hawk his better-for-you condiments and sauces. Hetherington sells nine different all-natural sauces (three varietals each of hot sauce, bbq and ketchup).
Chances of getting fully funded: It doesn’t look great at the moment. Currently, the company is 25 percent of the way to its fundraising goal of $500,000. The closing date? Tomorrow. But that’s okay, we’re sure Jonny will rock all the way to the bank with the $126,000 he’s recouped so far and attempt to keep building the brand
With over $550 million of assets under management and 40 years of experience, Westbow is one of the province’s more accomplished real estate investment firms.
Chances of getting fully funded: As such, it’s not surprise that the company has had little to no difficulty racking up the dollars on FrontFundr. Westbow has already raised $20 million of its $30 million goal thanks to 525 investors. It has 31 days left. Get the champagne glasses out.