Gaining capital for startup companies is a challenge in itself, but recently there’s been an outpour of initiatives and programs being created to provide more funding for minority entrepreneurs.
Many women and minorities are almost always left out of lucrative venture capitalist funding, and according to Crunchbase, women-founded startups only receive about 9 percent of investments.
To help more women entrepreneurs gain financial independence, Tracy Garley — founding partner and CEO of GoFundHer — launched a new crowdfunding platform committed to helping women receive the financial and community support they need, Black Enterprise reports.
With a goal in mind to advocate for women’s dream ventures, the Liberian-born entrepreneur partnered with crowdfunding owner and founding partner Roger Mensah to bring her vision to life.
“I developed the crowdfunding website and social club as sister companies embracing the causes of girls and women,” Garley wrote in an email interview with Black Enterprise.
GoFundHer recruits women entrepreneurs through City Girls Big Dreams, a social community network that empowers and supports the ambitions of women working to make their business dreams a reality.
“I created City Girls Big Dreams weekly online “Dream Session” events for girls, women, and their supporters to learn about GoFundHer.com while connecting with mentors to develop their goals then collect money online,” Garley said. “The Dream Session events are coordinated by interns I mentor in the spring, summer, and fall semesters, as part of an internship program designed for GoFundHer.com to grow the number of women with experience working at technology companies.”
The crowdfunding platform has touched more than 150 countries since it first launched in 2019, and offers direct deposit service for small businesses in more than 39 countries including India, Australia, and countries across Europe, according to Black Enterprise.
“It was important that I provide these opportunities for women around the world because women are still far from achieving social, economic, and political equality,” Garley said.
GoFundHer is a premium crowdfunding platform for women entrepreneurs to rely on when it comes to seeking funds for their ventures without the hassle of obligations or contracts.
“I’ve learned that it’s good to always be willing to help prevent other women from making the same mistakes I made during the early years of my business journey. I know what it feels like to have a dream, but not have the money to fund that dream,” Garley said.
Garley’s passion for women empowerment translates through her business practices as she continues to be an advocate for women entrepreneurship.
“Real women empowerment starts with enhancing her confidence and bank account,” she said.
For more information on GoFundHer, click here.