Waccal has officially launched its social community platform which startups and investors can use to compare ideas, seek funding and manage portfolios and due diligence processes. The company has kept the product in testing, while receiving backing and sign-ups from investors, VCs, Angel Groups, international funds and US universities.
Waccal joins the ranks of companies like Angel List and Crunchbase, which aim to democratize and simplify startup investing. However, Waccal goes further both in its sleek design, transparency, and its more comprehensive functionality.
The company has the vision of turning the process of funding and getting funded from a manual mess to a smooth workflow. The site has functionality for both investors and startups so that both sides can research the other properly and efficiently, and as the process advances manage their side in a smooth, inclusive UI.
“Oftentimes startups are stuck chasing uninterested investors, which not only wastes time and energy, but also lowers their morale” said Ash Mohammed, Waccal Founder and CEO. “Entrepreneurs are taking a sigh of relief when they hear about our portal for the first time, as they can finally spend time on what’s most important to them – building the product or service they are passionate about.”
Anyone who has been through the process, knows the anguish that stems from the amount of doorknocking and pitches required to get funding. A good rule of thumb at the moment is to speak to ten times the number of investors than you actually need. Shepherding that many investors through a high-wire act is almost the definition of stress, and from the investors side, their portfolio can seem to be in too many places at once. And by virtue of the amount of time the funding process absorbs, it’s also extremely costly.
Waccal’s launch raises the bar in a field that’s been awaiting an upgrade for a long time. So as the tech sector beds itself in as one of developed economies’ biggest drivers, and with its high reliance on young startups, Waccal is set to enter a market to be greeted with a warm and welcoming handshake.