Millennials have made the bizarre act of finding true love on a smartphone the norm with the popularity of Tinder, a mobile app that lets users “like” a potential mate simply by the swipe of the thumb.
As a means of securing a relationship, the tactic is questionable. But what if the business world used similar methods to find financing for owners of new businesses?
A new app is looking to do just that. So-called the “Tinder for investors,” Tendr allows small business owners and entrepreneurs to use a mobile app to view other investors or small business profiles. If both swipe right, they are given a line of connection with the hope that an investor will provide new financing for the small business.
In an interview with The Telegraph, Tendr Founder and CEO Lex Deak said the service certainly models itself off today’s generation of social media and smartphone addiction — both of which can be quite useful for SME investment.
“The essence of any investment opportunity can be captured in a relatively short sound bite, such as ‘Facebook for dogs, closes on Wednesday, 90pc funded, Warren Buffet is in,’” Deak told the publication. “Discovery is the most important part of the process, and the Tinder-style format is a nice way of displaying it.”
He added that he hopes to see Tendr become “the Moneysupermarket of alternative investments.”
According to reports, the app aggregates potential investors and businesses in need of funding from existing crowdfunding platforms. Once matched, users are directed back to those original platforms, which include Seedr and Crowdcube.
The app launched just last month but has already secured 2,400 users, reports said. Q Ventures is incubating the startup, but Deak told reporters that the company is in search of new lines of financing. The executive said that investors from the EU and U.S. have approached the firm already, but he did not disclose which potential backers may sign on to fund Tendr.