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Atlanta-based 40billion.com launched today in beta. 40billion has created a marketplace for entrepreneurs and investors to come together to create and fund new ideas. 40billion also provides a resource network to help entrepreneurs get the services and tools they need to build their product or service.
Entrepreneurs can request amounts to raise from $1,000-99,000 and investors can invest between $50 and $10,000 per project. Investors can select projects they are interested in funding and then set the amount and terms of the investment. There’s a live presentation option where the entrepreneur can pitch their idea and field questions from interested investors.
40billion takes a 5-7% fee on any monies raised. The site pushes entrepreneurs to push their profile on 40billion to their friends and family so they can get involved in the product or service. The site must always have a good supply of investors as the demand for investment will always be strong.