Describe the company – the elevator pitch…
Moneybush @ solves the funding shortfall created by the pillar banks by matching Savers looking for a higher rate of return with SME’s that have “new, short term, revenue generating” projects.
Moneybush has developed a variety of investment options to fund these projects with differing levels of risk and reward rising to 25% p.a. ROI. Currently we offer investors:
- a “high interest”, ring fenced investment program,
- an “asset backed”, ring fenced investment program,
- a “convertible” ring fenced investment program and we have recently developed
- a “combination” or portfolio approach for Investors that reduces risk and but still offers them a return that is a multiple of what they’ll get leaving their money in a bank.
How are you different?
- We have developed a unique method of ring-fencing the flow of funds into and back out of a project thus providing greater protection for investors and a greater level of control and self-discipline for SME’s involving establishing joint signatory bank accounts for each project.
- Secondly, unlike Crowdfunders and other Peer to Peer Lenders Moneybush remains involved in the project throughout its lifecycle through our Milestone monitoring system.
- Moneybush has agreed that it will donate 5% of its fees to the Simon Community to accommodate homeless people.Moneybush believes that it has responsibilities to the wider society in which it operates. “While the banks are making people homeless, with almost 300 homes being repossessed in the second quarter of 2014 alone, Moneybush is doing the opposite. We believe in doing well by doing good”, says Moneybush director and co-founder John Whelan.
Why will the company / product do well?
There is a massive funding gap in Ireland for SMEs. The inspiration for the business came from the founders’ scepticism about what the banks were saying in their carefully worded Press Releases.
Bank lending to SMEs is actually down €10bn in the last 4/5 years while at the same time Irish households have €91bn sitting in bank deposits earning less than 1% interest. Not all companies are stagnating.Many are seeing potential revenue growth slip from their grasp, as they are unable to get funding support from their banks. Moneybush resolves this problem via our short and medium term funding alternatives for revenue orientated projects.
Where are you based? How long will you stay there?
We’re in the Guinness Enterprise Centre with excellent broadband! We have no plans to move out of here at present.
When was the company launched?
Moneybush was founded by Ger Nunan and John Whelan in late 2013.
We launched an MVP website in Q3 of 2013 to test the concept. We followed up with a soft launch of the business in Q1 of 2014 and we moved to phase one of our Digital platform in June/July 2014.
What have been your biggest wins to date?
Key milestones for us included:
- Developing our systems for evaluating projects which took a lot of hard work and research.
- Creating our unique ring-fenced funding approach.
- Educating the market remains a key corporate objective.
During Q3 and Q4 of 2014 we advanced over €1 million to Irish SMEs (average investor’s ROI 25% p.a.).
As a result of this investment 53 new jobs were created across a wide variety of sectors such as: Software, Manufacturing, Retail, Construction, Healthcare, Digital Marketing, Property, Internet, and Commodity Trading.
We post up successfully funded projects on our Twitter feed @.
We currently have some great new projects ranging from €50K up to €2.5m and we’re actively seeking investors for them.
What type of people are you trying to attract to your product?
Our target market is ALL savers who want a better return on their money than they are currently getting and the entire SME sector in Ireland and the UK.
Tell us about your team?
Ger Nunan is a 25-year veteran of Irish SMEs, mainly in the logistics and technology sectors. In 2008 Ger was instrumental in developing the Russian market for pre-owned overseas properties, directly resulting in hundreds of cash-strapped Irish and UK property owners successfully selling their overseas properties.
When he isn’t working 24/7 for Moneybush, Ger likes nothing more than a simple walk on the beach, regardless of weather or season, leaving footprints on the sand and reflecting on life’s ups and downs. Perhaps coincidentally he is also an avid Manchester United and Munster Rugby fan.
John Whelan was a director of the LOOT Group which sold in 1999 for £195m. LOOT acquired Buy& Sell which John ran until its sale in 2007 for €28m, John thenworked in Healthcare Media from 2007 to January 2015.
John reckons that his BA in Psychology has served him well throughout his career but never so well as during the time since he and Ger launched Moneybush! He is married with two children and enjoys rugby, reading and cycling.
Dan White graduated from UCC with both a Bachelor’s and Master’s degree in history. Dan has worked for 25 years as a financial journalist, editor and columnist as well as author of the official histories of some of the major Irish companies.
When not curled up with a balance sheet for company, Dan likes nothing more than to spend the day hill walking. The great outdoors beats a session spent in the gym any day of the week, he assures us!
What are your long term plans for your product / company?
We bootstrapped the launch of Moneybush.net leveraging our own finance and skill sets. Our key focus was to satisfactorily prove the concept. Now that we have achieved this, we have begun seeking investment in order to develop the business and take it to the next level. The UK is an obvious next step for us.
What are your favourite tech gadgets?
We are currently in Roadwarrior mode, so obviously our iPhones, trusty laptops etc..
What tech gadgets do you wish you could use to help you?
It is unlikely to be of any tangible help to us but I’m looking forward to checking out the iWatch.
Currently our Marketing strategy employsHootsuite to post simultaneously to the various Moneybush Social Media Channels which we have established on www.linkedin.com, Twitter @, Facebook and Google Plus. Lastly all videos we create are also hosted on our Youtube.com channel,https://www.youtube.com/user/themoneybush
The fundamental principle that drives all business, including SMEs, is to generate increased revenue. Moneybush believes making more money is what pays your debts not borrowing more.
We are passionately devoted to contributing, through the successful implementation of the Moneybush model, to the economic recovery in Ireland. We feel that this process, (which has already begun) will dramatically improve if we are successful in finding funds for large volumes of SMEs who have “new, short term, revenue generating” projects.
We want to give Irish people the opportunity to grow their wealth-base again and to give Irish business the fuel it needs to drive the Irish economy forward.
How can people contact you?
If you would like to have your company featured in the Thursday edition of the Irish Tech News Business Showcase, get in contact with me on [email protected]