AdultXFunding, the newly founded platform for crowdfunding of adult entertainment projects, just made it public that they secured another round of equity funding. Fresh capital and breathing room for a company that wants to change the industry and how adult content gets financed.
AdultXFunding was only created in January – Venus Adult News reported – but the company already could secure another round of financing. Juicy Jay, founder of JuicyAds bought a stake in the company. The platform grew fast and features many projects in adult entertainment.
Among the diverse and innovative startups seeking to finance their projects through AdultXFunding are Luwi, a company trying to create a new female contraception product; Little Bird, a company that developed an app connecting adult books to a vibrator and Adult Industry Talk, a platform for companies in the industry.
AdultXFunding, for now, runs on a system of pure crowdfunding with people giving money for perks and products. But it plans to extend its options to equity crowdfunding in early 2018.
The fresh capital AdultXFunding got now will be used to add the equity function as well as to increase marketing expenses to create more awareness for the new way of financing adult entertainment projects.
AdultXFunding’s founder and CEO, Jason Maskell, commented: »We are delighted to welcome Jay as an investor. It’s great to have Jay understand our vision for AXF and how we want to open up funding for new and existing companies in the adult sector.«
In a statement the new investor shows himself very optimistic about the future of AdultXFunding: »With the growth in the crowdfunding sector and the variety of international adult campaigns emerging on a regular basis, it is obvious the industry needs a specific crowdfunding platform and I wanted to be part it as it grows from strength to strength,« says Juicy Jay.