At the very beginning of their journey, not all entrepreneurs have a lot of start-up capital to equip themselves with all the comfortable conditions for doing business. So if you’re looking for a place to download and share your sensitive data at first, you can use free, or budget virtual data rooms. VDRs can provide you with easy navigation, ease of use, and the ability to organize your documents. In this article, we take a look at the best free virtual data rooms for start-ups.
Top 3 best free virtual data rooms – an overview
With the advent of online storage, companies’ operations have greatly increased, as it has created the ability to centralize, integrate and easily manage data. Entrepreneurs starting can only afford to use budget or free document storage tools, and to save you time searching, below we provide a review of the top three free VDR providers:
Kufr is budget software from Slovenian manufacturers. The space offers 2GB of free storage and also has the feature of integrating with other cloud storage. Also, Kufr is often the choice of companies because it offers a clear, uncluttered interface that encourages users to quickly adapt to the program. Also, using the space in you can count on customer support services, though they are minimal.
Ftopia is an online repository from a French manufacturer headquartered in Paris. The space allows you to store projects in its repository and uses a secure server to share data. You have three rooms and 5 GB of storage at your disposal, and the number of users that can be present on the platform at the same time is up to 10 people. These are pretty good numbers for startups, with small teams and minimal data.
Ftopia stands out significantly from other free VDRs because it offers such useful and modern features as customizable branding, collaboration tools, and permission control. The program’s security record is also much higher than the others, as VDR uses data encryption, constant backup, and SAS 70 Type II certified protection.
- Google Drive
Google Drive offers 15GB of free storage, but if you want more, you can pay. The cloud server has advanced collaboration features so you can collaborate on presentations, a document, a spreadsheet, etc., you can leave notes and comments in certain parts of the document. Google Drive has great features for personal use, but it’s still not enough for business.
Why you should not use Google Drive as a data room
If you’re a startup looking for places to save money, sensitive data is not the place to do it. For startups, keeping data secure is especially important because they are not yet established in the field of business, and any disruption can be a big blow. If a data breach catches up with you, however, your idea probably won’t survive. That’s why you should choose storage facilities that offer a high level of protection, such as paid virtual data rooms.
Unfortunately, no free or budget version of VDRs will adequately protect your business. Google Drive has no security features that attackers can’t get around. If you are planning large-scale transactions such as mergers and acquisitions or fundraisers, you should take good care of your privacy since you will have to share sensitive company data during this process.