Crowdfunding dedicated to the world of vine and wine making
Crowdfunding platforms bring together donors and project owners who are looking to attract financing. What is special about Fundovino is that it is dedicated to the world of vine and wine making.
The Gift for a Gift concept
To help finance projects proposed by project owners, donors can choose how much they wish to donate. In exchange for donations, project owners offer them in-kind gifts. These rewards vary, depending on the nature of the project and the donation amount, and it is up to the project owners to determine their value.
The fundraising period
Project owners decide on the duration of the fundraising campaign. By the end of this period, the target amount needs to be reached or even exceeded for the project owner to receive the donations. The average campaign lasts 45 days, but this can be up to 90 days if desired.
Reliability of the project
The Fundovino teams put projects through a rigorous selection process before they are accepted for publication. Apart from checking how interesting and feasible the project is, its presentation and the reward system are also part of the selection criteria. Ultimately, however, the community will judge the value of a project by deciding, or not, to donate funds.
The business model
It is free for donors and project owners to register on Fundovino and present a project. When a target amount is reached or exceeded, the funds are released to the project owner, after deduction of a 3% bank transaction fee and a 5% commission for Fundovino. If it is not reached, donors are eligible for a full refund.
Project owners accept a sort of “moral contract” with donors. When they receive their donations, they promise to offer an in-kind reward within a period of up to several months. This system is therefore based on trust between donors and project owners. By promising a gift in exchange for donations, project owners put their reputation on the line to satisfy their donors.
Crowdfunding is based essentially on sharing. It is therefore crucial for project owners to alert their closest networks of relatives, friends or colleagues in order to reach out to the largest audience possible. Similarly, Fundovino encourages all donors to use whatever means they can to share the projects they support