Cofounded by Fabrice Marquet and Brian Frederiksen in January 2020, Monaco Foundry is launching the MyFoundry app on June 30.
“This marks the start of Monaco Foundry 2.0 and the first building block of a global platform for entrepreneurs,” Marquet tells Forbes Monaco. “Thanks to all the work our team has done, we are the only company in the world that has developed an automatized accreditation and compliance monitoring process for startups.”
The Monegasque adds, “For the last two years we have learnt so much working hands-on with entrepreneurs about what makes them successful and the pains they are enduring. To be completely honest, we were surprised to find such massive issues and biases no one has addressed for decades, especially when it comes to fundraising. This platform will allow us to scale our impact and to empower the next generation of entrepreneurs with the right tools and support to succeed.”
The MyFoundry app connects startups and investors with its proprietary accreditation to assess and support a startup in its journey with a mission of increasing the success rate of early-stage companies. This accreditation process helps startups progress, increase transparency and facilitate investors’ decision-making. Once accredited, the platform will provide a range for the company’s valuation, its investor prospectus and fact sheet and put them in front of the investors with matching criteria.
One Monaco startup on the new platform is Kevin Costa, who two years ago came up with the idea for Sweep!, an app “that will organize automatically and in a custom-tailored fashion your outings, weekends and holidays.” With Sweep! getting ready to raise seed funding, Costa (whose family runs Costa bakeries in Monaco) says, “The MyFoundry app is a true blessing. We are taught how to prepare for investors, we get our data room and investor prospectus ready for us and we have a better grasp of our valuation and how to back it in front of investors.”
For Costa, “Joining Monaco Foundry has been a major boost to our development. We have completely turned around our strategy, pivoted the business model and just launched a new version of our app.”
In May, Monaco Foundry introduced the Entrepreneur’s Club, which senior partner Shanka Jayasinha says “aims to help bridge the gap between the corporate world and young entrepreneurs.” The community is divided into two sections—a public server anyone can join and a private server with all senior partners of the Monaco Foundry only accessible to Access Key Holders.
Monaco Foundry’s vision is to build the largest ecosystem of accredited startups where entrepreneurs can connect with the right stakeholders seamlessly with a goal to increase the success rate of innovative startups by offering insights into SMEs.