fundable reviews

Fundable Review: What is It and How It Can Help You?

Elena Hudgens
By Elena Hudgens 18 Min Read

Fundable is a crowdfunding platform that specializes in helping businesses raise capital from investors, customers, and friends. The company prides itself on its hands-on approach to startups, offering support throughout the campaign launch process. Since its inception, the company has generated over $615 million for businesses. Due to which Fundable reviews are mainly positive.

Setting up a Fundable fundraising campaign for your business is quick, easy and free. You can choose between our Rewards or Equity campaigns, which allow you to tailor your fundraising experience to meet the needs of users and investors.

Here are some features of the platform:

Rewards

As a consumer-facing business, you undoubtedly want to raise money from the public by selling your product or services related to your business. Best suited for funding goals of $1,000 to $50,000. As an accredited investor looking to invest in your business, with a funding goal of $50,000 to $10 million and up, depending on the options available on Fundable.

Campaign approval process

Once your profile is submitted to Fundable, the campaign is typically reviewed and approved within 2 to 3 days. Fundable’s team has up-to-date information on all terms of service and ensures that they are adhered to before approving or rejecting campaigns.

High maximum fundraising amounts

Depending on your fundraising goals, Fundable has a number of different tiers. There is no specific cap or maximum amount of how much you can raise if you use the Rewards model; anything from $50,000 for affiliates who choose the Equity model.

Flexible Time Limits

Funders have the option to work with Fundable for as long as they need to. With Equity funds, an investor’s commitment is renewed every 90 days. Campaigns are unique and require the flexibility of working with Fundable during this time period.

Low fees

Fundable charges a modest fee for each campaign, but it is lower than the fees charged by other crowdfunding platforms.

Monthly Fundraising Fee

The fundraising platform is available for just $179 per month. This includes creating and managing your fundraiser, which costs money to maintain.

Merchant processing fees – for a campaign with rewards.

Supporters pledge credit cards with a 3.5% + 30¢ processing fee to fund their campaigns on Fundable. The fee is deducted by WePay, Fundable’s partner and one of the world’s largest transaction management technology companies.

Fundable is a website where you can raise money for your business in exchange for equity. There are no success fees and the business gets what it asks for financially, whatever that may be.

Receiving funds

How you receive funds depends on the model you choose. After a rewards campaign, all money is automatically transferred to your company’s bank account and equity commitments can be processed offline after the crowdfunding campaign ends.

Work options for consulting services

As a member of the Fundable team, you will take on several tasks. The first task is to create a profile, which is then reviewed by our staff to ensure it is relevant and accurate. Once your profile is approved, we will discuss any marketing strategies with you to ensure they are effective in raising money for your business or project. And finally, after all the details have been ironed out and the campaign has been successfully launched thanks to our help – we keep an eye on things from start to finish!

Fundable provides personal administrative expertise to its clients in the following ways:

Funding Accelerator

Fundable’s dedicated team of consultants works with clients through every step of the fundraising process, providing strategy sessions on structure, pitching, and investor selection. It is a favorite of many and is seen in the fundable reviews. Following these sessions, a Fundable profile page is created where each client has access to their personal information as well as tips from our world-renowned experts. We are so confident that you will be successful with your fundraising that we offer an unconditional guarantee – if you do not receive funding or achieve your desired goal within 5 months of completing the Fundable startup service, you will receive 100% of all funds received back, no questions asked.

Platform Page Creation

Fundable offers a more convenient option for clients who are pressed for time. And another one to mention in the top fundable reviews section. This service includes an introductory call where you work directly with our dedicated advisor to prepare your opportunity to launch on the platform.

Positive customer Fundable reviews

Fundable has a limited number of reviews, but most are 5-star reviews. The most common comment about Fundable in reviews from satisfied customers is that they received excellent customer service and low upfront costs compared to the services provided. Many customers who have used Fundable would recommend it to friends or other business owners.

All-or-nothing rewards campaign structure.

Fundable only uses an “all-or-nothing” funding approach to the rewards model. This means that if you do not meet your goal, no funds are collected. Equity campaigns are about the target amount a company needs to advance their business and drive further growth – these transactions are not done through Fundable, but through investors.

Mandatory U.S. presence.

Fundable cannot offer its crowdfunding services to businesses that are not based in the United States. However, if you are headquartered in the United States but your company’s funding services are not available there, Fundable is acceptable. You must meet all of the above requirements (e.g., have a U.S. bank account and a social security number or business tax number ID ) and also pass our due diligence.

Here is a list of the pros and cons that might be helpful

Pros

  • Rewards and equity crowdfunding
  • Successful campaigns have Low fees
  • Good customer support
  • Pre-selection of campaigns benefits

Cons

  • Apartment monthly fee 
  • All or nothing funding
  • Pre-screening of campaigns for approval

Overview

Crowdfunding is a business model where individuals or groups of people raise money through pledges from interested parties. Fundable focuses on helping startups and entrepreneurs get their products and services to market quickly without having to worry about the financial burden.

Fundable is a business crowdfunding platform that gives companies the choice of either launching an award-based crowdfunding campaign or an equity-based campaign, where backers receive a stake in the company in exchange for their support.

Fundable offers a marketing solution that allows companies to set up their fundraising profiles and share them with personal and professional networks.

On Fundable, you can find Fundable reviews from accredited investors. This is in contrast to most of its immediate competitors, which are less focused on dreamers with wild ideas and more on startups and companies with a solid plan of action. Only accredited investors can participate in an equity crowdfunding campaign on Fundable.

Fundable is a crowdfunding platform that has awarded $615 million to companies to date. These funds come from various venture capitalists, angel investors, and private investors.

When you commit to funding a project through Fundable, you accept an all-or-nothing scenario. If you do not meet your funding goal during your funding period, Fundable will not take any money from your account. This model is often used by startups because it gives them a tight timeframe to complete their product while ensuring they do not lose money if they do not meet their goal.

Unlike other crowdfunding providers that keep a portion (usually 5%) of the money raised in a successful campaign, Fundable charges an apartment monthly fee of $179. This is an unusual way to charge fees, and helps ensure that all the money raised is used to help people reach their goals.

With Fundable, you have to pay for the privilege of using the platform, whether or not you are successful with your campaign. This makes the platform less attractive to small businesses and entrepreneurs who are not sure if they’ll be successful with their campaigns, as well as projects with a modest fundraising goal.

On the other hand, it can be a great option for high-capital projects that have a significant goal. For these types of projects, you do not have to pay thousands of dollars in fees.

The premium package for Fundable is available for a one-time payment of $2,499. This package includes the ability to connect with accredited investors. The pricing for the premium package is not listed on the website, but I did a little research and it appears that this package is available for a one-time payment of $2,499.

With an Equity campaign, once the fundraising goal is reached, all payments are made offline directly to the advertiser – via wire transfer or check. This eliminates the Fundable fees that only apply to contributions to a reward campaign.

One of the requirements for running a rewards campaign is that you offer at least three levels of rewards to your supporters. However, these rewards can either be in the form of a pre-order of a product or a promise to provide a service. Fundable gives you more flexibility in terms of the rewards you can offer than Kickstarter, which requires that your rewards be offered in the form of physical goods.

Application Process

To apply to Fundable, you need to create a company profile where you list details about your company and project. Then, you’ll need to wait for Fundable to approve your profile before you can proceed. If you do not want to wait for approval, Indiegogo automatically approves all submitted projects and performs due diligence later).

Click here to raise capital.

After you complete a Rewards campaign or an Equity campaign, you have two options: You can either continue with the Rewards program or invest in your business. A pledge for a Rewards Campaign can be as low as $1, while the minimum pledge for an Equity Campaign is $1,000. There is no maximum amount for a pledge.

Transparency in sales and promotion

Fundable is straightforward and easy to understand, even if it does have a dry sense of humor. Terms of use are laid out in an easy-to-understand manner without trying to overstate anything. 

Customer service and technical support

Fundable is a searchable knowledge base that offers guides to the platform as well as infographics and startup stories. There are also a number of online resources that can help you answer questions about Fundable. All fundable reviews mention this factor.

For support, Fundable’s website has a toll-free phone number and email. This goes far beyond what crowdfunding providers typically offer, many of which only provide an email contact form for support. The customer service is fantastic!

Fundable has been praised by professional reviewers and users alike. They have been mostly positive about the company, with only a few criticisms. However, there are also some negative reviews that you should take into consideration.

Fundable reviews, complaints and suggestions

Negative Reviews and Complaints

There are some recurring criticisms of Fundable, but there are also some professional reviewers who have positive things to say about Fundable.

Lack of the Flexible fundraising option.

Some reviewers feel that Fundable’s fundraising structure is too rigid and it would be nice if there was a flexible option so you could keep the funds you raise.

High monthly fee:

When it comes to running a small business, saving money is important. That’s why the $179 monthly fee is so important. It allows us to keep our costs down and still be able to

Unhelpful customer service:

Fundable reviews do have some user complaints about Fundable’s lack of support in finding investors and inadequate customer service.

Positive Reviews & Testimonials

Fundable is praised by professional reviewers and users as a great tool for crowdfunding campaigns

Allows for both rewards and equity-based fundraising:

Some reviewers have praised the flexibility of allowing both rewards-based and equity-based crowdfunding campaigns.

Attractive to funders:

Many other reviewers agree that Fundable is a particularly attractive platform for backers, as the monthly fee structure works well to weed out rogue campaigns.

Online, users have also had great experiences with customer service and a high level of support. Many users reported having excellent experiences with their investments.

Conclusion

Fundable is a crowdfunding platform that is not exactly lenient with the masses. Due to the monthly fees and restrictive guidelines for using the platform, small businesses need to look elsewhere for a cheaper crowdfunding option. However, for serious entrepreneurs looking to raise a significant amount of capital, Fundable is a great option, especially considering you can run reward and share campaigns!

It’s important to note that Fundable charges a monthly fee that is significantly higher than the 5% fee most crowdfunding providers charge. This difference is due to the fact that Fundable offers excellent customer service and has a wide range of tools and resources to help backers succeed with their projects.

Founded in 2013, Fundable is a company with a solid plan of action. This company offers affordable software that helps businesses with their nonprofit projects and future plans.

Fundable is a great way to raise capital for your startup business. It’s free to get started by creating a profile on Fundable. There is then a monthly fee of $179 throughout the fundraising campaign – this monthly fee is significantly low compared to other crowdfunding platforms.

Rewards campaigns are a great way to grow your business. They offer rewards in the form of money or other benefits that can be valuable to you as a business owner. Equity campaigns offer businesses a share of the profits they generate, which can be helpful for growth and expansion. With this selection, you can choose the model that best fits your needs for growing your business.

It’s important to know that the financial rewards from a campaign are yours, but you must meet or exceed your fundraising goal to receive money. Customer service is highly rated, and low fees are a major selling point for Fundable reviews.

Also read: 12 Best Crowdfunding Sites for Startups: The Ultimate List

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Posted by Elena Hudgens
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Elena Hudgens is an entrepreneur with 10+ years of experience. She started her journey by building her own e-commerce website on Shopify and turned her $1000 savings to millions in just 2 years. Soon she started different ventures in which she failed and succeeded. And now, she's on a mission to help other entrepreneurs with her life and business lessons.
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