Verxigo, a startup focused on globally connected co-working spaces, reached its goal of US $25,000 in exchange for a 5% stake on Bigcolors last week.
Thanks to the crowdfunding platform dedicated to helping startups raise capital, Verxigo secured collaborative funding from five investors hailing from the US, Australia and Hong Kong.
Verxigo helps startups gain a global presence by having an office space in the countries where they do business, without having to foot astronomical rental bills. With future plans to open co-work spaces in Hong Kong, Singapore, Australia and Taiwan in the coming year, Verxigo is the second startup to get funded on Bigcolors (the first being KissHugs).
We had a chat with James Giancotti, co-founder of Bigcolors, and he told StartupsHK about the benefits of crowdfunding for capital. “A lot of people see crowdfunding as eliminating VCs, but I think it actually gets rid of banks,” explains James. “Typically, when people try to get a business off the ground, they use credit cards of loans – but crowdfunding will help with that initial step to get an idea off the ground.”
According to James, Bigcolors puts more liquidity in the marketplace which helps startups continue to get funding. “We’re trying to build a platform where everyone wins, both angel investors and startups, says James. “If angel investors are able to make money off startups, they’ll keep on investing.”
So how does a startup with a Bigcolors campaign secure funding? Beyond pitching a global idea that appeals to investors the way that Verxigo did, James advises early stage companies to maintain professionalism at all times. “Just because you’re a startup, doesn’t mean you have to act like a startup,” says James. “Look bigger than you are and people will take notice of you. Look professional, act professional and be professional.”
James is one of the speakers at our Startup Saturday: Crowdfunding 2014 conference this Saturday at The Landmark. Tickets are available here.
James Giancotti on Startbase.HK: James Giancotti
Bigcolors on Startbase.HK: Bigcolors
