6 Best Lesser-known Crowdfunding Platforms
Get to know these awesome crowdfunding platforms. Know your options for the next time you try to raise money for your project or cause.
Crowdfunding has quickly become a popular way for folks all over the globe to raise money for all sorts of reasons. One can raise funds for medical expenses, startups, general expenditures, Movie projects, etc.
For startups or projects, crowdfunding also provides valuable feedback from a large community, since people will only open their wallets for causes they truly believe in thus providing the campaign originator a good measure of product viability.
As an Entrepreneur, artist, movie maker, vlogger, etc. You get to know if you have a hit on your hands in real time via the power of crowdfunding.
Nevertheless, most crowdfunding sites appeal to a niche, with each platform specializing in a set of specific needs of the end user.
What is Crowdfunding
Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet. Crowdfunding is a form of crowd-sourcing and alternative finance. In 2015, a worldwide estimate totaling over US$34 billion was raised by crowdfunding.
That being said, here are the 6 most frequently-used crowdfunding platforms out there. ( Not in any particular order)
1. Mightycause
This platform focuses on causes and other philanthropic campaigns. Would not be a great place to raise money for a startup or other for-profit endeavors.
Mightycause is perfect for raising money for charitable causes.
2. YouCaring
YouCaring, like Razoo also focuses primarily on facilitating fund-raising for charitable causes. With a smooth UI, the site is great for raising funds for global causes.
3. WeFunder
WeFunder is the ideal choice when raising funds for your business with equity crowdfunding. Wefunder uses a provision in the 2012 JOBS Act which allows unaccredited investors to provide equity for entrepreneurial undertakings.
Equity crowdfunding is the online offering of private company securities to a group of people for investment and therefore it is a part of the capital markets. Because equity crowdfunding involves investment into a commercial enterprise, it is often subject to securities and financial regulation.
Wefunder has raised over $30M for over 180 companies who used the crowdfunding platform to sell shares in their business.
4. Crowdrise
Although not very popular, Crowdwise is well known in some circles for being the go-to crowdfunding platform for raising money for real world issues. Crowdwise is also used by Non-profit organizatons to boos their fundraising efforts. The platform offers various options such as Event-based fundraising, Run, walk and cycle fundraising and many more.
5. PledgeMusic
Launched to much fanfare in 2009, PledgeMusic allows artists to reach out to their fans and would-be fans to pre-sell, market, and distribute music projects including recordings, music videos, and concerts. The platform offers a robust avenue for new and independent artists to grow their fanbase, sell merchandise and their music.
6. Patreon
Patreon is unque in the sense that it offers funders a subscription-based model to support their favorite content creators. The platform is very popular among Artists and other creatives, supporting video series, podcasts, etc.
The platform supports the works of well-known content creators like Issa Rae and Zach Weinersmith.