Mintme News


How to raise pre-seed funds without needing pre-seed investors?

Dec 23, 2019

The concept of pre-seed funds seems alien to a lot of people, pre-seed funds are funds you raise when you have the idea of a new project but don't have the money to create a preliminary product. Then this preliminary product is used to pitch the idea to investors so the seed fund can finally be raised. This funding round has always been called the "Friends and Family" phase, this is because almost no one can approach serious investors with just an idea with no actual implementation or proof that it'll work.

But not all people have rich family and friends, and even if not all families are supportive and most friends wouldn't want to mix business with personal relationships. So what to do for your pre-seed funds when you have got nowhere else to go?

The solutions of the modern internet

With the rise of crowdfunding websites all over the internet, options have been presented where anyone can present an idea to the masses and receive funding for its implementation. But anyone isn't the right word here since those websites have a hard process of approval which is not always so transparent. Nevertheless, assuming that you were of the lucky few who got approved for funding on those websites, it's not always viable as you have to stand-out which is not always possible with the thousands of other potential entrepreneurs waiting for people to fund their dreams.

The fine print

If you visit any of the major crowdfunding websites now, you'll find something really strange.

Supposedly new projects with no funding whatsoever have professional videos created that costs up in the thousands, even some of those videos show clearly actors making them a well-funded ad. Then you should try to not think that this amount of money at those very early stages would have been better spent on improving the product's prototype. Also, you need to think about how is that fair?

And even after someone receives enough pledges and funding, they find themselves in a strange spot seeing how much of their pre-seed funds have been taken by the platform as profit disguised as fees. Then starts the legal hurdles and tax statements. All in all, getting unconditional pre-seed funding is almost impossible in 2019 if you don't come from a rich family.

Mintme comes in was created specifically to solve those kinds of issues, to summarize for first-time readers, mintme is a cryptocurrency exchange mixed with a crowdfunding platform, it was created to solve this issue exactly. On a user can simply create their own token those tokens can be used for a wide range of purposes, such as traditional ICOs, loyalty programs and of course raising seed and pre-seed funds.

With mintme, all a user need is simply to create an effective social media campaign starting with sharing it with his friends and family, but mintme allows for the extension of that circle into the whole user base a prospective entrepreneur can reach.

No fine print

The major difference with mintme is that there're no hidden fees, no fine print and no excessive deductions taken from the raised fund, all mintme takes are the regular transaction fees that any exchange takes for transactions, and even among cryptocurrency exchanges, mintme's fees are among the lowest.

With all of this laid down before you, we at mintme can't think of a reason why you can't start your project? All you need is a social media campaign you can run for yourself and leave the rest to us.

written by:Moe