Venture Capitalist Bill Tai Backs Kickfurther & Joins Advisory Board
(firmenpresse) - BOULDER, CO -- (Marketwired) -- 04/11/16 -- , a leading inventory and invoice financing crowd-funding platform that connects companies and backers seeking qualified short-term deal financing, today announced that venture capitalist Bill Tai is an investor and new member of its board of advisors. Tai is one of Silicon Valley''s top investors, a Partner at Charles Rivers Ventures, and co-founder of . Kickfurther made the announcement at #LendItUSA.
"Kickfurther was such a standout opportunity in the Extreme Tech Challenge run by MaiTaiGlobal, that many of our members wanted to fund the company. So we did, by pooling our capital into an XTC Fund that is now a happy backer," said Tai. "We were struck by the size of the market opportunity. The aggregate market for lending against inventory is in the trillions of dollars." The investment amount is undisclosed.
"It''s extremely exciting that Bill is now part of the team," said Sean De Clercq, founder and CEO. "When we first talked about Kickfurther, he understood the idea immediately and he has been a steady and constantly positive advisor. Bringing Bill and the Mai Tai organization onboard is a big win for us and we''re looking forward to an exciting year."
"Consolidation in the banking sector has made it uneconomic for traditional banks to service the millions of small businesses out there," added Tai. "Kickfurther''s solution is showing strong usage and traction because it offers solid returns to individuals who want to back products from companies they really trust and like, and grow their money in the process."
Kickfurther is a leading inventory and invoice financing crowd-funding platform that connects companies with backers seeking qualified short-term deal financing. Our platform enables consumer product companies seeking capital to finance growth in production by sharing their sales opportunities with backers interested to put their money to work in short term profit opportunities in the retail supply chain.
Businesses post offers by choosing the amount of inventory capital they need, the profit percentage backers will earn, and a projected timeline based on sales history. Since its 2015 launch, Kickfurther has funded more than $6 Million in 240 offers by more than 200 companies. Their backers have earned an average greater than 2% consignment profit per month on completed offers.
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Datum: 11.04.2016 - 08:30 Uhr
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