FairFunders provides a rate-and-review service for female entrepreneurs looking for investment
by Startacus Admin
New platform FairFunders is on a mission to provide female entrepreneurs with the voice and power to access capital in a safe and inclusive environment.
We recently highlighted a number of Women in Tech communities and platforms which all in one way or another are providing empowerment, inspiration & support to female entrepreneurs, innovators & tech workers. Step forward another addition to this list, FairFunders, a recently launched non-profit organisation, whose mission is to provide female and under-represented entrepreneurs with the voice and power to access capital in a safe and inclusive environment.
Inspired by the recent acts of bravery of women who have shared their experiences of unfair treatment at the hands of a number of venture capitalists and well-established companies, a group of entrepreneurial women (we think a co-founder team of 10) have formed FairFunders, aimed at encouraging accountability in the venture capital sector. 
Fairfunders provides a single online platform for entrepreneurs to rate and review their experiences with investors, and whilst serving not only as a transparent resource of information for entrepreneurs raising capital, will also provide a reliable source of feedback for VC's on how they are perceived by underrepresented founders.
Using FairFunders, entrepreneurs can also locate investors who demonstrate values such as diversity, inclusion, dignity, and respect in their investments and interactions with founders.
Investors will expect to find that FairFunders encourages professionalism and a diverse investment portfolio by highlighting those with the best reviews, and provides the feedback necessary to establish new industry guidelines for professional behaviour towards founders.
Kiki Mwiti, founder of Globerly and a FairFunders co-founder, explained, “We want to incentivize correct behaviour and establish best practices. How else would we be catalysts for the equal treatment of our generation of innovators seeking funding, if we didn’t answer our industry’s call-to-action and create a system where we are treated fairly?”
“Each investor plays a huge role in shaping the future of a company, so without information, founders are walking into these relationships blind,” says co-founder Amy Wang (founder of ReHarvest), “FairFunders hosts that information.”
FairFunders is building their list on the YouMeWho platform, a startup also founded by two women, Vivienne Lee and Luping Lin. It is a perfect fit, as YouMeWho’s mission is to let people create actionable lists from comprehensive data sources. In this case, the actions are feedback and rating, and the data source is investors.
“The situation for females and minorities raising funding is difficult for a variety of reasons, and a definite link between culture and environment. I joined in co-founding FairFunders to make a difference, and get more great companies access to the networks and finance they need to bring their ideas to fruition,” says Nuala Murphy, co-founder and advisor to FairFunders, founder of Moment Health, and Regional Leader with the Sheryl Sandberg and Dave Goldberg Family Foundation Leanin.org.
Fellow co-founder of FairFunders and a previous Y Combinator alumna Samantha Friedman also said, “Many people are telling us they see the value in FairFunders’ mission, and I believe we will have a lasting positive impact on the fundraising environment for underrepresented founders everywhere.”
FairFunders also have plans to add accelerators and venture capital (VC) firms, to the platform in the future, and to provide a space for candid and productive conversations about sustainable diversity and inclusivity to be fostered.
High fives all round from team Startacus and we look forward to seeing how this rate-and-review platform develops.
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Published on: 1st September 2017
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