FAQ – Why are there multiple rounds of funding?

Our goal was to develop with minimal risk and at minimal cost which includes not raising more funds than we need.

Each round of funding for Qinnect is tied to a particular phase of development with clear objectives that need to be met before moving into the next phase.

Our first round of funding was to build the mobile component of our product, gauge initial interest in the concept from potential investors, and gain hands-on experience with our development partner.

By planning out stages in funding and development, we allow for adjustments and learnings as well as minimizing initial investment need and risk for all investors.

With a successful first round including raising $28,000 in investment in just over 1 month, continued investment interest, positive responses from potential investors, clients, users, and developers on the product and a productive 2 months of development, we are confident in moving to the next round of funding and planning the next stage in development.

We would like to start scheduling the next phase of development and we want to give interested parties enough time to review documents, ask questions, and make appropriate arrangements before we start phase 2 of development so we are starting 2nd round funding, with a goal of raising an additional $35,000 by December 31st, 2013.

If you would like more information about Qinnect, our plans, and/or a copy of the investment overview please contact us at info@qinnectnow.com.

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FAQ – Why are there multiple rounds of funding?