MoolaHoop is a rewards-based crowdfunding platform created by women to help women leverage the “power of the crowd” to grow their businesses. MoolaHoop enables female entrepreneurs, business owners and managers to garner financial support for their projects by reaching out to their customers, offering Rewards in the form of special pricing on their products and services and unique experiences.
Women have traditionally relied on their social and support networks to start and grow their businesses. MoolaHoop recognizes a woman’s expertise in relationship-building and networking, and has created a secure web-based platform especially for female entrepreneurs to help them extend their own “crowd” of supporters – existing and potential customers, professional networks, friends and family.
Launched on July 24, 2013, the MoolaHoop site marks the first step in the design and development of a robust ecosystem – the “Hoop” – to fund ideas and provide ongoing services to women business owners. As envisioned by company co-founders Brenda Bazan and Nancy Hayes, MoolaHoop will grow to offer, through partnerships, a suite of resources to support women-owned and -led businesses, including access to funding sources, experts, education and mentoring. In December 2013, MoolaHoop acquired Lucky Ant, a crowdfunding site for small businesses. On January 14, 2014, MoolaHoop released a new version of the site, adding more features to support women raising funds for their small businesses.