We take a look at some startups shaking up their industries
We’ve long been intrigued by the Canadian crowdfunding startup FrontFundr. The Vancouver-based platform promised to revolutionize investing when it was founded in 2013, and some would argue it’s done just that. Since then, the company has built up a community of over 34,000 users, run more than 100 successful funding campaigns and helped businesses raise more than $120 million.
With the recent announcement of a certain B.C. company hitting the platform (more on that later), we thought we’d take a look at three local businesses that are currently trying to raise money on FrontFundr and analyze their chances.
Resthouse
Based: Victoria
Status: 37 percent funded
The sleep market seems overly competitive, especially in Canada, where various mattress companies attempt to bounce each other out. But Victoria-based Resthouse—which landed on FrontFundr last month—strives to consider each sleeper’s “unique personal needs.” The company offers an “ecosystem of sleep essentials,” which include its own in-house brand of Kakūn mattresses, pillows, comforters and toppers, as well as an assortment of ethically-sourced blankets, duvet covers and robes from brands like Coyuchi, Obasan, and Holy Lamb Organics.
Chances of getting fully funded: Resthouse is currently at just over $185,000 raised from only four investors. Not bad. It has a long way to go to hit its goal of $500,000, but it also has 68 days left to do so. It likely gets there.
Jonny Hetherington Essentials
Based: Vancouver
Status: 25 percent funded
It’s not every day you stumble upon a hot sauce company owned and operated by a rock musician. Today is that day. The eponymous Hetherington fronts the Vancouver band Art of Dying while also finding time to hawk his better-for-you condiments and sauces. Hetherington sells nine different all-natural sauces (three varietals each of hot sauce, bbq and ketchup).
Chances of getting fully funded: It doesn’t look great at the moment. Currently, the company is 25 percent of the way to its fundraising goal of $500,000. The closing date? Tomorrow. But that’s okay, we’re sure Jonny will rock all the way to the bank with the $126,000 he’s recouped so far and attempt to keep building the brand
Westbow Capital Fund II
Based: Chilliwack
Status: 68 percent funded
With over $550 million of assets under management and 40 years of experience, Westbow is one of the province’s more accomplished real estate investment firms.
Chances of getting fully funded: As such, it’s not surprise that the company has had little to no difficulty racking up the dollars on FrontFundr. Westbow has already raised $20 million of its $30 million goal thanks to 525 investors. It has 31 days left. Get the champagne glasses out.
