Europe’s Ulule has launched in Canada.
Founded in 2010, the Paris-born crowdfunding player boasts 8,100 funded projects, $40 million collected from donors, and 660,000 users in 148 countries.
Alexandre Boucherot, co-founder and chairman of Ulule, came to Montreal to oversee development of the website.
“Ulule is a valuable tool for creators and entrepreneurs, offering an additional source of funding and, for some, an alternative to conventional sources,” Boucherot noted. “Beyond funding, however, it serves as a litmus test for an idea and can rally a community around a project.”
“Thousands of entrepreneurial, creative and community-minded projects owe their start to Ulule, and Canada will be a good place to further expand this movement,” added Boucherot.
National Bank is Ulule Canada’s lead partner.
“Our partnership with Ulule Canada confirms our belief that ‘everything starts with an idea’ and that, together, we can help individuals or groups take an idea and turn it into a project, whether big or small,” stated Lise-Anne Amyot, Vice-President – Brand and Client Experience at National Bank.
With Ulule, each project submitted is reviewed free of charge by the Ulule team. If the project is accepted and put online (for a limited time: 45 days on average), it will only be funded if it reaches or exceeds its funding target. Ulule takes a 5% commission (8% after technical and transactions costs are factored in) only for projects that successfully meet their funding targets. If a project does not meet its funding target, the project owner does not collect any of the funding amount he seeks and no pledges are debited from donors’ accounts.