Plenty of folks turn to matchmaking services to find a date. So, why not turn to one to find cash for your company? That's the idea behind Utah firm
Funding Universe LLC
, which hooks up entrepreneurs with would-be investors.
Here's how it Funding Universe works. Companies pay Funding Universe $99 to assess their investment needs. After analyzing the entrepreneur's credit history and business, the company offers a list of potential investors and lets them know where they should go to a bank, venture capital firm, or angel investors for cash.
If the business needs some tweaking, then Funding Universe tells the entrepreneur to revise his pitch. The business owner can do that on his own or tap Funding Universe's expertise, paying anywhere between $500 and $3,500 as a consulting fee.
Broke Blake, CEO of Funding Universe, is scouting the Baltimore area with plans to open an office within the next three to six months. The office will likely wind up in one of the Emerging Technology Centers
offices in Canton
or Charles Village
. Blake is not sure yet which he will pick for the 1,000 to 2,000 square foot office.
"We'd like to make that happen soon," he says.
The company is also on the hunt for a regional director to head the office. Though the office will only employ a handful of people, he hopes it will nonetheless have a big impact in helping companies get funding.
Blake chose Baltimore because he has a lot of contacts in the region and they convinced him that his service could be useful to the community. Those business contacts include executives from the Baltimore Angels Network and the Maryland Technology Development Corp.
"I really want to cultivate the angel community and get active investors," Blake says.
Funding Universe has 900 investors and 400 banks in its network, serves 10,000 businesses per month and has 70 employees.
Source: Brock Blake, Funding Universe LLC
Writer: Julekha Dash