Deal-facilitating website Corculture.com officially launches today, with one main aim: to link businesses that need growth funding with Corculture’s existing group of 30 private investors.
Developed to close a funding gap in the growth market, founders David Seinker and Brian Horwitz recognised that while there are funding sites available in South Africa, none of the existing platforms have an executive team that analyses and assesses the potential of each business proposal.
“Corculture.com only lists opportunities that have been screened and meet certain minimum approval criteria,” explains Seinker.
“We have a twin differentiator. We assist entrepreneurs to become ‘investor’ ready, even if they are already well established, and we offer Corculture’s private funders ‘pre-assessed’ businesses to pique their interest.”
Pitch your business
“We loved the notion of forcing business owners to get back to basics, review their business plans, learn how to elevator pitch their businesses again, and basically ensure they are giving investors what they want,” says Seinker. “Not only does it make them take a close look at their business before they approach funders, but it enables them to really become funder ready, and address any potential issues before approaching investors.”
- There are 30 investors within Corculture.com’s network looking for businesses to fund
- Investments will typically range between R1 million and R10 million, although Corculture’s investors are looking for high growth opportunity companies, irrespective of the business stage. Given the right circumstances, no deal is too large.
- Businesses owners enter online, submit a business plan and will be assessed for free
- Businesses that do not meet the minimum listing criteria will still receive valuable feedback from Corculture.com
- Chosen business owners will then need to film an elevator pitch for the site
- Interested investors can then review profiles, watch videos and request an introduction
- A six-month listing will cost R3 500 (or R600 a month)