Fourex

4. Fourex have raised a huge amount of capital through crowdfunding. Talk us through your experience of crowdfunding. Our business model "breaks the mould", and there is absolutely nothing to compare us to. We pitched our idea to hundreds of businesses and Venture Capital firms over the past year, and while they all loved our technology and idea, m... ost were only willing to invest once we had taken out all the risk and proven our concept. Either that, or they wanted a majority share of the company, and that wasn't an option for us. Therefore we decided to crowdfund, and were just amazed at the response. Our idea clearly resonated with the general public, and within six days we had reached our target, eventually overfunding by 244% in under two weeks. The exposure gained from the media coverage also helped open a lot of doors for us. 5. In your opinion, what are the negative aspects of crowdfunding? A lot of people warned us against crowdfunding because they said we would have a lot of interference from all the investors trying to tell us how to run the company. In fact, we have found the complete opposite to be true. Our investors have been incredibly supportive, and we now have over 430 people shouting about our company, and advertising our product to all their friends and family. 6. What's the best business decision you've made? The best decision we ever made was to approach Transport for London to see if they would be willing to support us, and rent us some space. They saw the potential of the idea, and even though we were in the very early stages at that time, they were willing to work with us and support our small business. TFL's mandate is to offer their passengers high tech products and services that will benefit their time poor customers, and our machine definitely ticks all those boxes.Read More