Alternative methods of funding are becoming increasingly popular as businesses and investors alike are looking for out of the box methods to fund or invest in ideas. One of the most recent alternative methods is taking an unusual approach, targeting today’s generational social media and smartphone infatuation in the form of a mobile app. This app, released in June 2015 in the United Kingdom, uses a Tinder-style format to “match” potential businesses with investors.
Tinder is a matchmaking app that lets users view the profiles of potential mates close by, and the user swipes right if they are interested. If both users swipe right on each other’s profile, a dialogue box opens and they can easily communicate. It’s one tactic to find love, and it succeeds in creating a simple way to explore options and find a number of potential suitors. So what does it look like when this concept is applied to small business owners and financiers?
Off3r, the mobile matchmaking app for business and affectionately called the “Tinder for investors,” uses a mobile app to give investors the ability to easily and continuously view aggregated campaign content from multiple crowdfunding platforms. Using the swipe technology popularized by Tinder, investors on Off3r can bookmark promising campaigns for perusal later.
‘“[Off3r] removes friction, thereby increasing efficiency in deal sourcing,” said its founder, Lex Deak, in an interview with TechCrunch. “It is a useful tool for investors who are currently having to access up to a dozen platforms individually, it is also a nice lightweight channel for entrepreneurs and the wider start-up ecosystem for staying abreast of trends and what’s hot.”
Off3r users are directed back to the original platforms, which include crowdfunding sites such as Seedr, Crowdfunder, and Crowdcube. The app is available in 47 countries and has 3,301 investors, as of November 20, 2015.
If Off3r isn’t available yet in your country, explore other alternative funding options with these videos, articles, and success stories.
Photo Credit: Flickr.com, Michael Coghlan