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Prague, Czech Republic, 5th August 2011


Childhood Friends Launch Czech Republic's First Crowdfunding Site


Today sees the unveiling of Fondomat, the Czech Republic's first crowdfunding website. The groundbreaking site is the brainchild of childhood friends Joe Wakeford and Conrad Watts. The two Prague-based entrepreneurs have known each other since they were 12. They built Fondomat in order to give all people living in the Czech Republic the opportunity to raise money using a specialist platform operating in Czech currency. As both of them work in creative industries – Joe is a music producer and Conrad is a writer – the inspiration for Fondomat came from a personal desire to make it easier for people with creative ideas to make them a reality.

Crowdfunding – A simple yet innovative way of using the power of online social networks in order to raise extraordinary amounts of money – is already a spectacular success the world over. This platform is currently being used by the President of the United States, Barack Obama to launch a new age of entrepreneurialism in the United States as one answer to the worldwide economic crisis.

Fondomat offers a revolutionary way for charities and individuals to reach donors and manage projects at a fraction of the cost incurred through traditional fundraising methods. 'The site is available in both Czech and English.' said Conrad Watts, 'It's open to absolutely everyone; whether you're an entrepreneur, an artist, a charity or simply someone looking to raise funds for a honeymoon, Fondomat provides the platform to raise money effectively and quickly in the Czech currency. We like to think of Fondomat as a dream factory – if you can imagine it, we can help you make it happen.'

The site is fully integrated with Facebook, Twitter, YouTube and Google+ in order to maximise it's users fundraising potential by connecting with their entire social network from a single source. Users of the site market their projects or campaigns on a self-serve basis, using video, blogs and social network messaging to reach their funding goals. All users, no matter what they are raising money for, retain 100% ownership at all times. For obvious reasons, security is paramount at Fondomat. All data is protected by the best encryption software commercially available and PayPal is used for all transactions giving users the maximum possible protection.

'Crowdfunding,' said Joe Wakeford, 'has been proven around the world to be by far the most powerful and cost effective way to raise money for literally anything conceivable. With Fondomat the Czech Republic now has a dedicated crowd funding platform of its own. The future of fundraising has arrived.'

For additional information: click here
Telephone Conrad Watts: +420 732 131 459

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