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FAQ

GENERAL


FOR FUND - SEEKERS


FOR INVESTORS

GENERAL
1) What are the fees
Fundtry is new to the market thus we would allow the users to use the platform for free during the initial period. However, there would be fees charged after that which is subscription based. The subscription fees vary depending on the type of membership (investor or fund-seeker) or duration of membership (ranges from 1 month to 6 months). However, from time to time, Fundtry would have promotional offers for the platform so stay tuned for updates!
2) Does Fundtry screen through businesses posted?
Only a quick review to make sure they meet our minimum information required for business posting. Fundtry does not investigate the validity and worthiness of a business and also the fund-seeker's competency in starting or running the business. Investors ultimately perform their own due diligence before they decide to participate and fund the business. Our website allows you to make your best judgement based on information provided and plan a face-to-face meeting.
3) Does Fundtry act as a trustee and involved in the transmission of money for equity or debt financing of business?
Fundtry does not act as a trustee nor involve in the transmission of money between the fund-seekers and investors. We provide the platform to help aspiring entrepreneurs to connect with potential investors to fund their business ventures and facilitate the communication between them using our communication tools.
4) Is Fundtry legally obligated if the business can't raise the required funds or if the fund-seeker is unable to start or execute the business?
No, Fundtry is not legally obligated if the entrepreneur is not able to raise the required funds after the project is posted in the website or if the entrepreneur is unable to start or run the business as planned. Thus, it's crucial that both fund-seekers and investors thoroughly discuss the business both online and in person before finalizing the deal.
5) Would my subscription be automatically renewed after end of period?
No, you have to manually select a new membership option and make a new payment. If you wish to cancel your subscription, please do so in your "My Account" page. Do note however that the longer the duration, the lower your average monthly subscription.
6) Do you take a cut i.e. commission out of the investment amount?
No, we only charge subscription for using our services. We believe the commission of the investment amount is purely between the investor and fund-seeker and strive to make our web portal economical to everyone regardless of individuals or companies.

 

FOR FUND-SEEKERS

1) Can Fundtry be used to post any business idea?
Yes, Fundtry can be used to post any business idea across multiple categories, provided the business is a legitimate one within the jurisdiction where the business will operate. It is the responsibility of the fund-seekers to check the relevant laws before posting any business idea to ensure they do not violate the laws. However, it's strongly advised that the fund-seeker have researched and thoroughly thought of the idea prior to posting.
2) What currencies can fund-seeker raise money in?
Currently, we support the major countries within ASEAN and the fund-seeker would need to specify the amount to be raised when posting project. However, for standardization, all projects posted would be denominated in US Dollar currency. Thus, fund-seekers would need to make the necessary conversion from local currency to populate this information in your project.
3) How many business ideas can I post as a fund-seeker?
As a fund-seeker, you can post unlimited number of business ideas within your membership duration. However, it's advised that fund-seeker exercise discretion in posting projects to ensure that only well-thought and genuinely interested projects are posted for investors to evaluate.
4) Can fund-seeker edit the business idea once it is posted?
Yes, fund-seeker can utilize the edit button on the "My account" page itself to edit the information pertaining to the business after it is posted. Fund-seeker can also delist the business idea at any time (in order to protect the idea) and relist it again at a later time. All business ideas delisted will be stored in system thus making relisting fast and easy.
5) How does Fundtry protect the business ideas from being stolen?
All investors, before they are allowed to view the full details of the business idea, are required to electronically accept our standard "Non-Disclosure Agreement" thus provides some level of protection to the fund-seeker. However, it's encouraged that fund-seekers and investors finalize some form of internal agreement when finalizing the deal itself.
6) What if I have multiple investors interested in the business I posted?
That's great! If you have the positive problem of having many investors approaching you on your fantastic business idea, you can discuss and connect with them all so that they could obtain a slice of your fantastic business. In the "My Account" page, you would be able view all your messages thus follow-up with your prospective investors accordingly.
7) How do I promote my project?
Currently, we do not have specific features to promote your project in the platform. However, it's highly recommended that fund-seeker enter as much information when posting project to ensure that it captures the attention of a potential investor. Some tips include clearly putting details of your project in project summary, upload images and insert a video if you have. In the future, Fundtry would continue to innovate and ability to promote project would be a key task.
8) Can I keep some information private when posting project?
We certainly understand as a fund-seeker with an interesting idea, you would not want to disclose too much information on your project. Thus, should such situation arise, fund-seekers are encouraged to put sufficient (not too detailed) information on post project which include a well-written project summary supplemented with images, videos and estimated returns. After this process, fund-seekers are then encouraged to utilize the communication module within the platform to interact with your potential investors to sell your attractive business idea!
9) I need consultancy help (Incorporation, accounting and other consulting) services
As a starting entrepreneur or even a more established business owner, there are times when additional consulting help is needed such as company incorporation, accounting/bookkeeping and/or other business consulting services. Thus, fund-seekers can click on the "Need Advisory Services" button on the top right of the Post Project page where you can send your enquiry to our available consultants who can assist you. Note some services may be chargeable to you.
10) Can I view other fund-seeker projects in detail using fund-seeker account?
No, you can't view projects as a fund-seeker other than your own. If you want to view other posted projects in detail, you would need to sign-up as investor on a separate membership using a different email address. It's possible to have both fund-seeker and investor accounts as long as they're registered using different email addresses.
11) How do I view some sample project summaries to help me post my own projects?
We do have a few good project summaries which you can follow but do note that guidelines are also indicated in the fields during post project workflow. The document containing these project summaries can be downloaded through this link: http://fundtry.com/download/SampleFundtryProjectSummaries.pdf

 

FOR INVESTORS
1) What are the tax incentives/implications to the Investors
We're not in the position to provide advice on tax laws on angel investments. Kindly refer to your country's tax consultant or perform your own research prior to making an investment.
2) I like to keep track of posted projects of which I'm interested in
In the "My Account" page, the investors can keep track of the projects in their watch-list. Projects can be added into the watch-list when the investors are searching for projects.
3) How do I communicate to the fund-seeker on a project that I'm interested in?
Once you have identified a project that you are interested in, click on the "Contact Fundseeker" Button on the top right of the project page and start communicating. Note your conversation would then appear in the My Account page where you can continue to communicate. Both the fund-seeker and investor can also upload attachments during the conversation.
4) Why am I being prompted to a non-disclosure agreement when view project?
When you view a project for the 1st time, you would be prompted to agree to a non-disclosure agreement before able to view the project in detail. This feature is in place to provide some form of protection to the fund-seeker particularly when the project involves IP property. However, once you have agreed to the non-disclosure agreement of a specific project, you would not be prompted again.
5) Can I have the non-disclosure agreement send to me (a soft copy)?
Currently, we do not support this feature but, would be made available soonest in our next phase of development for the website.
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