WeOwn, the European Startup which specialises in providing technology for financial services, has today launched Money Turtle across Europe.
Money Turtle is a mobile-first platform for companies of all shapes and sizes looking to raise capital. The app modernises the funding process for businesses, removing the awkwardness of borrowing from friends and family when obtaining funds for their business or project.
Money Turtle enables users, be they SMEs, larger corporates or individuals, in a few simple steps to register their business, define the project at hand and invite their network to invest. Simplifying this process allows founders to concentrate on building the offering rather than worrying about the time-consuming contract writing and payment chasing.
Sascha Ragtschaa, WeOwn’s Co-Founder and CEO added that, “ This is a big day for us, the team has worked hard on a project that we truly believe will help a lot of businesses that are stuck in something of a no-man’s land right now. The climate is tough, but there are some brilliant businesses and projects happening, so at no time more-so than now has it been as imperative to kickstart businesses and projects, boosting livelihoods as they go! We’re also adding professionalism to a process that’s a little bit sensitive. In effect, Money Turtle adds a layer of control to a fundraising initiative that is usually done on a piece of paper or just a handshake. In a time where businesses need more support than ever, Money Turtle can be exactly the tool companies need.”
Within Money Turtle, upon agreement of investment, a programmable smart contract and a physical contract (PDF) are generated and linked between the fundraiser and their associated supporters. This allows both parties to have a digital and physical contract to simplify any disputes that may arise.
Fundraisers can create milestones within the app, allowing real engagement with their growing communities of investors. They can engage by highlighting progress milestones, sharing any news, successes and updates on what is happening with the capital the community has entrusted in the company.