60-second start-up: BanktotheFuture

0-5 seconds: Sum your business up in a sentence

We are an online platform that allows entrepreneurs to raise finance from a crowd of investors by offering them rewards, equity or monthly interest.

5-10 seconds: What's the business model?

We charge a success fee off all funds raised through our platform as well as offering online training on getting investment ready. We also help people build their social capital score which builds on traditional credit scoring. Social capital score is one of the rating tools used by the BankToTheFuture.com that measures additional factors beyond traditional credit-rating. It is based on the member/investor's social media (Facebook, LinkedIn, Twitter, Google+) connections, activity and recommendations/reviews from followers.

10-15 seconds: Who are your competitors?

Funding Circle, Crowd Cube, Seedrs and Kickstarter.

15-20 seconds: What's your USP?

We are the only platform that allows businesses to raise finance and investors to invest in three different ways as well as help them to build a social capital score for future funding rounds.

20-25 seconds: How have you funded it so far?

We funded out of the founders pockets, then raised our first round on our own platform.

25-30 seconds: What were you doing before?

I was an investment banker before setting up a training company for investment bankers and my wife Bliss Dixon the co-founder was a banker before joining the training company and helping students to become more ethical bankers.

30-35 seconds: Where did the idea come from?

I wrote a book on the future of finance called 'Bank To the Future' and have been advising parliament on how to increase competition in banking, so decided to set up our own online financial institution.

35-40 seconds: What's the smartest thing you've done so far?

Getting Richard Branson to get behind us. "I like the goals of BankToTheFuture.com, where everything is transparent and people can see what happens with their money." Sir Richard Branson

40-45 seconds: What's the stupidest?

Spending two years to get everything ready for launch. Could have been one year or less with the knowledge we have now.

45-50 seconds: If your business was a biscuit, what would it be?

Rich Tea. Like the nation's favourite biscuit, we want to become the nation's favourite crowd-funding platform and get more money into the hands of entrepreneurs who deserve it. Entrepreneurs who will go on to create jobs that will make our country rich.

50-55 seconds: Which idea are you a bit jealous of?

There is a bank in Germany that has a banking licence and is fully social media driven. We are looking to get our banking licence one day in the future.

55-60 seconds: Where are you going to be in 12 months' time?

At the one year birthday with other entrepreneurs and investors showing that we managed to support each other and get more finance in the hands of SME's.

For more information about BankToTheFuture, click here

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