Pittsburgh-based Honeycomb Credit, a leading community capital investment platform for small businesses, announced its acquisition of IFundWomen (IFW), a funding marketplace for growing businesses. This deal combines IFW’s solid track record in rewards crowdfunding, enterprise grants, coaching, and connections for early-stage companies with Honeycomb Credit’s expertise in helping local businesses secure loans from everyday community investors.
The IFW team will be joining Honeycomb Credit effective immediately. Karen Cahn, IFundWomen’s Founder and CEO, will join Honeycomb Credit as a Board Member and Principal Advisor, focusing on advocating for small businesses.
Since its founding in 2016, IFW has grown into a network of over 500,000 founders and funders, united by a mission to close the funding gap for small businesses. Entrepreneurs who launched their funding journeys on IFW have collectively raised nearly $200 million through crowdfunding and sponsored grants and created 95,000 new jobs (and counting).
Honeycomb Credit is an investment crowdfunding website where independently owned small businesses can raise money on fair terms from a community of customers, local investors, and fans.
The company recently expanded its offering to include alternative financing tools such as crowdfunded equity and revenue share options. And approved businesses can raise between $25,000 and $500,000 through Honeycomb Credit, and individuals can start investing on the platform for just $100 with the benefit of potential returns.
Honeycomb Credit is relationship-centered and looks to reimagine wealth-building for small businesses and the communities they serve. And the company has a growing investor community of over 25,000 and already deployed nearly $50 million in capital to independently owned businesses. When people come together to build something, the entire community benefits.
Under the terms of this deal, all IFW services will be fully integrated into the Honeycomb Credit platform, providing a comprehensive suite of funding solutions for entrepreneurs at every business stage. And the combined entity will deliver unparalleled access to capital, coaching, and community resources for business owners nationwide.
KEY QUOTES:
“At IFW, we’ve long sought a partner to expand funding opportunities for small businesses in our community. While we excel at supporting entrepreneurs from ideation to product-market fit, we needed a collaborator for those ready to grow and expand. Honeycomb is the ideal partner, sharing our mission of providing capital access to companies often overlooked by traditional lenders or the venture capital ecosystem. Joining forces will allow us to leverage more resources and assist a broader range of small businesses across America. I’m thrilled that IFW will continue its mission, now branded as IFW by Honeycomb Credit, supporting all entrepreneurs.”
- Karen Cahn, Founder & CEO of IFW
“By joining forces with IFW, Honeycomb Credit is creating a unique offering in the market where entrepreneurs at any stage, from ideation to launch to expansion, can find the right capital at the right time in their growth journey. This acquisition advances our collective goal of cultivating a more resilient small business ecosystem for entrepreneurs nationwide, and now we provide a complete spectrum of funding opportunities, coaching, and resources tailored to small business needs.”
- George Cook, Co-Founder & CEO of Honeycomb Credit
