Kickfurther is an online platform that enables small business owners to acquire money for their inventory purchases through crowdfunding. It can be a practical solution for startup entrepreneurs who need immediate funding for their products but either cannot wait or do not qualify for a traditional bank loan. In this article, we cover user reviews and pricing. Ready to try Kickfurther? Sign up for a free account.
What Kickfurther Does Well
Users who gave Kickfurther a positive review like that it does not require a subscription and that it charges low fees. Several others mentioned that it is a great venue for startup companies to get support and funding for their products without having to go through the rigorous application process for traditional loans.
One user who gave Kickfurther a positive review on Quora said that he uses the platform to support different consignment campaigns. He mentioned that it does a great job of vetting companies it features on its website and makes sure that all transactions go smoothly. He added that he appreciates being able to help startups while making money in the process.
What Kickfurther Does Not Do Well
Users who gave Kickfurther a negative review commented that the risk of losing money invested in crowdfunding platforms is reduced because the company creates a direct link between the investor and the small business the cash goes to.
One user who gave Kickfurther a negative review on Trustpilot shared that he is generally happy with its service but recommends that investors should verify a company’s information before deciding to send money to the business.
Kickfurther assesses a 0.5% success fee upfront. For example, if you raise $10,000, you will get $9,500 in your bank account once Kickfurther takes its cut. You will also need to sign a contract that specifies what percentage of each inventory sale will go to pay your participants back.
|Maximum Raise Amount||You request the amount, up to 30% of annual revenue.|
|Effective APR||You set the APR, ~18% -30%|
|Payback Time Period||2 to 10 months|
|Funding Speed||Average funding time is 1 hour, up to 10 days|
|Time in Business||At least one successful production run with|
$25,000 sold, and your inventory has a shelf
life of at least 6 months without refrigeration.
Cost is calculated as a markup on the landed cost of goods and usually ranges between 2-3% per month. This distinction is important to contrast with traditional Factoring or PO financing costs which are calculated at an approximately 3% discount on your wholesale price. The result is that depending on your cost of goods and markup, the cost of that inventory production could be 2-3 times less expensive using Kickfurther over traditional means.
Ready to try out Kickfurther? Sign up for a free account.
Check out the list below of some of Kickfurther’s features:
- Payback History Graphs
- User Dashboard
- Business Profile Pages
- 10-Minute Reservation System
- 15 to 24-Hour Preview Period
- Business Referral Program
How does Kickfurther work?
What are the terms for getting a business featured on Kickfurther?
Here is a list of some of Kickfurther’s popular integrations: