WealthForge is a social network meant to bring investors and entrepreneurs together. It is part social network and part investment bank, really the first of its kind. At WealthForge, users can take their business ideas, promote them through a profile, build a fanclub for their idea and get connected to the necessary resources to get their product or concept off of the ground. WealthForge is also developing not just the entry point into the funding process, but also another transactional space to exit as well. This is basically turning a once unregulated and messy process into a streamlined one supporting both investors and entrepreneurs and hopefully leading to the fostering of fantastic new business ideas and ventures. For investors, they can create an investor profile, search through quality deal listings and connect and invest in good ideas. For entrepreneurs, they can post their venture on a profile, give their value proposition, connect to the right investors and ultimately achieve their fundraising goal. WealthForge hopes to make the dreams of entrepreneurs a reality, and to make both investors and entrepreneurs successful in this win-win situation.Show more screenshots »
WealthForge was developed by two University of Richmond students named Mat Dellorso and Fred Bryant in 2010. It was based around the idea of "how can we make it easier for small business and entrepreneurs to find and acquire the capital they need to successfully launch their ideas?” As of January 2012, WealthForge is a fully registered Broker Dealer with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) and the social network at wealthforgeonline.com is beginning to take form with over 500 active users. Companies who have used WealthForge include Decorador, AeirBiologic, Roof Over My Head and Lightening Switch. WealthForge is based out of Richmond, Virginia.
WealthForge is different from other kinds of posting sites since it is a fully registered broker. This makes it more trustworthy and invested than just another forum or social network out there. They really intend to act as the facilitator between the investor and the entrepreneur. In addition to its current layout and design, WealthForge is developing not just the entry point into the funding space, but a secondary marketplace to exit as well. This transforms the often difficult task of tackling the private placement market into a simple and straightforward process to conduct business for all kinds of investors of any level.
WealthForge is very well designed and comes across professional and stable. The site is straightforward and logical in where to go to. Entrepreneurs and Investors can both sign up for the application the same way. The site is responsive and appears to have sufficient bandwidth to support its traffic.
To register for the WealthForge application, users will be asked to provide their first name, last name, email address and password. From there, users are introduced to the WealthForge community and they can then access the dashboard and other features of the application.
Today, WealthForge is a free site. Since it is in its infancy stages, they are keeping the site free, however they may move to a premium model in the future. For those who really connect to the site and think they have something special, they could always reach out to the WealthForge team and perhaps get a placement agent agreement setup between themselves and WealthForge. In an unofficial statement, WealthForge advised that their cut in that kind of relationship would be about 5%.
WealthForge is worth a peak by anyone who have an innovative idea that they just need funding for to get off the ground. Additionally, investors could also benefit from WealthForge by uncovering that needle in the haystack which could be the next big thing that they were looking to invest into.