What is Wadiz? Wadiz Review

Original Intention

Wadiz helps those who have ideas but no funds to raise funds. The name Wadiz comes from the word 'wadi', which means both an oasis in the desert and a dry valley in the rainy season. The founder of Wadiz explains that wadi means a river that flows money where it is needed. Wadiz helps entrepreneurs who have no guarantees or delivery records, but only some fragmented ideas. These are the dead ends of finance.

Project Requirements

Anyone can explain their ideas in Wadiz and get funding. However, in order to prevent fraudulent projects, lenders need to get support from friends on social networking sites such as Facebook. Representative Shin believes that if you can't convince the closest people, you can't convince others. If you want to get formal funds, you must first get the support of the closest people, and then gain trust in stages, and then you will be able to get formal project fundraising.

Fees

Wadiz uses a unique fee pricing system. The more people support it, the less fees it charges. Wadiz charges a basic 7% fee, but if more people join, the fee will naturally decrease. Wadiz has obtained a patent for this pricing method.

Corporate Culture

Vision: Wadiz advocates for the Trust Capitalist Group to create a trustworthy society by investing in intangible possibilities and reputation.

Mission: The essence of Wadiz is not just about raising funds, it is about creating a more growing world by ensuring that funds from the financial markets flow to where they are needed, such as startups and early-stage companies.

References

• 1. South Korean crowdfunding website Wadiz: Sohu [cited on 2015-03-15T16:00:00.000Z]