About CoFunder

CoFunder comes from the same, experienced team behind SeedUps, an innovator in the emergent crowdfunding market. We have learned much about the lack of business funding in the two years since we launched SeedUps. With over two thousand start-ups registered on the platform in Ireland, the UK and the USA we continually turn away good local businesses, simply because they do not meet with the SeedUps criteria of being less than two years old (to qualify as a start-up), or they are not in the technology sector.

To address this issue, and acknowledging the continued restrictive lending policies of banks, we developed CoFunder. This platform will be aimed at quality, growth based companies who are already established and looking to expand and create jobs but who lack the necessary working capital to do so. It will aim to match lenders with quality companies, who can invest from as little as €100 into any individual company. Companies can raise from €5,000 to €100,000 from the crowdfunding backers, so long as they have the required credit score (provided by our credit reference partner) and supply a director’s guarantee. Ultimately it will be the backers who decide which companies get funded.

There are two main advantages of the peer-to-peer lending system developed by CoFunder:

  1. Creditworthy businesses with funding requirements can connect directly to lenders with available capital, removing the reliance upon the restrictive lending practices and high costs associated with bank funding
  2. Lenders can obtain interest rates which are better than the minimal rates currently offered by banks and institutions, and through CoFunder’s system can choose their own desired return on investment based on their interpretation of risk.

The direct relationship this creates between borrowers and lenders serves to improve Corporate Governance and responsibility. Borrowers know they are responsible to real people rather than faceless institutions and as such are less likely to default. Lenders have a true sense of ownership, and will act to benefit their investment e.g. using and promoting the businesses they invest in. CoFunder’s advanced social networking tools serve to promote these relationships.

CoFunder (IRE) Limited is a wholly owned subsidiary of CoFunder (NI) Ltd which is authorised and regulated by the Financial Conduct Authority under Interim Permission (licence number 665091). CoFunder (NI) Ltd is a member of the UK Crowdfunding Association and the European Equity Crowdfunding Association.