JoomlaFunding is a powerful platform for collective funding, focused on Joomla projects.
Each user must register in the system and create a profile. The profile must contain sufficient information - photograph, valid name, user information, links to personal sites. They need this, because investors should have a clear idea who funded.
All ideas submitted by users are projects.
Projects are something with a clear end, something that will be eventually completed and will be provided to consumers as a product.
Example: "gamification platform" or "website for daily deals". Published ideas must be realized through the Joomla, and their code should be published for free using by all Joomla fans.
Each project will be reviewed carefully by team JoomlaFunding and will be approved before starting the fundraising.
Users who publish projects must provide rewards for backers. They do this in exchange for funds or appreciation to investors.
Rewards are items of value, such as a pre-order of a new product or services. It could be everything with value for investors and Joomla! community.
JoomlaFunding is a powerful marketing tool. Consumers will benefit from the huge volume of Joomla fans who are subscribed to our newsletter. They will be able to learn about their ideas quickly.
The users can also take advantage of social tools to share the project with their friends, family, colleagues, customers, and the media. That will increase visibility and will identify new channels of fundraise.
The backers of the site will be able to invest in projects an amount from €1. They can make a simple contribution via PayPal (credit and debit cards).
After successful investment the backers will receive "Virtual Shares".
The shares are just a tool for increasing motivation and commitment of the investors. They are only valid here on the site and DO NOT assign any obligations from authors of the projects to investors.
The virtual shares are collected from backers after investment in projects. They will be available for trading between users of the site.
So, if the owner of the project develop a commercial extension and make money from it, he will be able to buy shares back from the investors.
It will be one of the ways innovators thanks to backers for contribution.
JoomlaFunding uses "all or nothing" and "keep what you raise" fundraise models. At the end of the fundraising, all funds are collected and send to PayPal account of the project owner.