How can I become a user on Vemagnet platform?
You can sign up and create an account providing your full name and an email address. You will receive a confirmation at your email address and you are ready to explore Vemagnet platform. Sign up here
What is the cost of an account creation?
There is no cost for creating an account. We just need a few more info about you, so as to complete your profile and give you access to all features of the platform.
Is it necessary to accept your Terms and Conditions?
Yes, we need your acceptance in order to allow you to use our platform. Businesses share valuable and confidential info about their operations through our platform and we must protect their intellectual property rights. Moreover, Terms and Conditions describe all the rules and regulations which govern the relationship between you and Vemagnet platform. Hence, we strongly recommend you to read them carefully and contact us if you have any question.
How can I start a fundraising campaign for my business?
You must first complete all the information required on your account and then you can start a fundraising campaign. Start a campaign here
How can I invest on a fundraising campaign?
You must first complete all the information required on your account and then you can invest in a fundraising campaign. Invest now
How can I raise finance for my business?
The first step is to create a fundraising campaign. Start a campaign here. You must complete all the tabs in the business plan and submit your campaign for evaluation. Once we will check and approve your campaign for its validity, usually it takes 5-7 working days, you will receive our response. Then you are ready to launch the campaign and raise finance for your business.
Is it necessary for my business to be incorporated?
Yes. Only incorporated businesses are allowed to raise finance through Vemanget platform. If you are on the stage of idea generation you should proceed to the incorporation first and then start a campaign on Vemagnet platform to raise finance.
Which countries are eligible for funding?
The business must be incorporated in one of the following 39 countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxemburg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom, Norway, Switzerland, Australia, New Zealand, Canada, Singapore, Hong Kong, United States, Japan, Brazil and Mexico. It is also necessary for the business to hold VAT number, business address and bank account. More countries are going to be integrated into our platform from 2019 on. Contact us to be notified about your country.
How much can I raise through Vemagnet platform?
The minimum target must be 30.000€/£ and above. There is no upper limit, but our recommendation is to not exceed 500.000€/£.
How many days do I have to raise finance?
You have 45 days until the campaign will be closed. If the campaign reaches the target within this period you can stop it or you can continue to receive finance as overfunding.
Should I give something in return for the investments?
Yes, it is necessary to give at least one reward to your backers. The most common is to send the products of your business or the services that you are going to develop. You should create 5-7 rewards to give a diversity to your backers to choose.
Can I set a unit limit for the rewards?
Yes, you can set a unit limit for every reward. Be careful, strict unit limitations could have an impact on your minimum funding target. Our advice is to set at least one reward free of limitations in order to avoid this situation.
Can I choose where to deliver my rewards?
Of course, you can choose. You can deliver your rewards wherever you wish. The categories we offer are EU, Rest of the World and Everywhere.
Can I apply extra shipping costs linked to my rewards?
Yes, you can apply a reasonable shipping cost for each reward you offer. Once you choose the area you want to deliver your rewards, you can add the extra shipping cost. Bear in mind that the shipping cost is applied to the total pledge and not on every item. That means if a backer selects 10 items of the same reward, the total cost is applied once to the total amount.
What other fields have to be filled in order to submit my campaign?
You must complete the tabs Pitch and Business where you will give some basic information about your business, your project, the challenges you face, your milestones and how you are planning to use the funds. You can upload video, photos, tables and graphs as well, so as to provide the whole image of your business. Finally, you can create an organization chart on the tab Team, providing personal info of the people involved in the company.
When is my campaign ready for launch?
Once you submit your campaign for evaluation you will receive within 5-7 working days our response about its validity. After performing the appropriate due diligence, you will be informed of the exact launch date.
Can I edit my campaign after being published?
Unfortunately no. Once your campaign has been published, it is exposed to the general public. It would be harmful to your campaign if you redefine some of its core aspects. Our recommendation is to work in advance on your business plan and be sure that you give a clear view of your business.
Do my duties stop after the launch of the campaign?
This is the time you were expecting for! There is a huge crowd in front of your crowdfunding campaign ready to back your project. You should keep them updated with your latest news, answer their questions and boost their enthusiasm. Also, you can communicate and inform your network to spread the word and support your campaign.
Can my campaign receive investments from all over the world?
Potentially yes! But it depends on what you decided about the rewards’ distribution. For example, if you chose to deliver your rewards only in the EU, then you will receive investments only from the EU.
Can I cancel my fundraising campaign after being published?
Yes, you can cancel your fundraising campaign. There is no charge and you are free to proceed with that decision at any time until the end of your campaign.
Do I receive the money if my campaign does not reach the minimum target?
No. The campaign is All or Nothing, meaning that if it does not hit the goal the backers will receive their money back and the campaign is unsuccessful.
How much is Vemagnet’s fee for my campaign?
You will only pay Vemagnet a success commission fee of 5% on the raised amount if –and only if- your campaign is successful. If your campaign is unsuccessful there is no charge, since no money transaction is being made. This standard fee includes all the administrative tasks performed on behalf of your business. Additionally, there is a 3% payment processing fee for all the transactions operated by our payment providers (Stripe & EveryPay).
In case you want to have a tailored-made service (including business consultancy, campaign construction, marketing strategy, online store exhibition, access to BA and VCs) contact us to get more information about the available packages we offer.
Does Vemagnet platform use a payment service provider?
Vemagnet platform uses Stripe as a payment intermediator. We do not store any card details and Stripe is responsible for the transactions between your company and the backers.
When will I receive the funds on my bank account?
Once your campaign is successful, the money will be released after 7 working days. There is a 7-day window following your campaign’s deadline for collecting and processing pledges. After this period, all the investments from your backers will be released to your account minus 3% payment processing fee and Vemagnet 5% success fee.
Should I create a Stripe Account?
Yes, if the payment provider for your campaign is Stripe, you should create a stripe account in order to receive your funds. The bank account you use to set up your project should belong to the company running the project. Once you’ve launched your campaign, it is not possible to edit your verified identity, funds recipient, or bank account information.
Who can make an investment?
In order to invest in a business, you need to be above 18 years old and successfully complete all the required Tabs on your Profile. Complete your Profile.
How can I make an investment?
There are many investment opportunities you can explore. When you find a business that you would like to invest in, simply click “Invest” in the Campaign. Choose the reward you would like to receive and pay the amount is required. You can always have the option to choose if your investment will be public or anonymous.
Does Vemagnet help me to choose the business to invest in?
Vemagnet does not help you to decide which business to invest in. It is up to you to choose the business for your investment.
How much can I invest?
Your investment on Vemagnet can be as little as 10€/£. However, the amount you invest in a business depends on your disposable income. Our recommendation is to invest in campaigns you understand and not more than 10% of your annual income. Furthermore, bear in mind that some rewards may include shipping cost for the delivery to your country. The shipping cost is added only once on your total pledge, regardless how many items you are selecting.
Can I cancel an investment?
You can cancel an investment at any time before the campaign closes. Once a campaign closes and successfully meets the target, no cancellation is available. To access your investment, select “My Investments” from your account.
What should I expect after my investment?
Once a campaign reaches the target, we will transfer your funds to the bank account of the campaign. You will receive a confirmation email and a receipt for the transaction. We will also create a private forum between the campaign owner and the backers, where you can be informed about the progress. The campaign owner will inform you about the distribution of the rewards.
What if a Campaign does not reach the target?
If a campaign does not reach the funding target, there is no charge to backers. The cards will be only charged the moment when the campaign is successfully completed.
Is there any risk of losing money?
Investments in startups offer great opportunities, but they are risky investments. In the worst case, the entire investment amount may be lost.You can minimize the risk if you split your investment amount between several businesses rather than invest everything in a single one.
How secure is it to invest on Vemagnet’s platform?
We do not store any card details.Our payments partner, Stripe, meets all the standards for security. You can learn more about Stripe’s secure infrastructure here.
Is there any fee I should pay to Vemagnet?
No, Vemagnet does not receive any fee from the backers.
When is my card charged?
If the campaign you are backing is successfully funded, your card will be charged when the campaign reaches its funding goal. If the campaign does not reach its funding goal, your card is never charged.