During the COVID-19 pandemic, there was a rise in crowdfunding platforms as more individuals faced financial struggles. People turned to those in their community, seeking help when they could find no other means to help them stay afloat through one of the biggest crises the world has ever seen. At the end of the day, online fundraisers were the most stable way individuals could help one another.
According to research done by Greg Elmer, Sabrina Ward-Kimola, and Anthony Glyn Burton titled “Crowdfunding During COVID-19: An International Comparison of Online Fundraising,” people began using these platforms to address different issues such as animal welfare, death and funerals, community charity, family or friends support, and food or supplies, among others. The rise happened in several countries, but the majority (67%) began in the United States, followed by England (14%), Canada (6%), and Italy (5%). This goes to show in times of need, there is a sense of hope in the community.
As the usage of crowdfunding platforms grows, there are several options you can choose from when setting up your fundraiser. Here are the top 5 crowdfunding platforms for 2021:
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1. FreeFunder
A more recent addition to the personal crowdfunding scene, FreeFunder upended things in 2016 when founder John Symonds decided to create a crowdfunding platform with no fees instead of the standard 5% platform fee. Since then, some other platforms have followed suit, but FreeFunder continues to innovate to provide the best possible experience for the people who need funds the most. People who need to fund personal projects, pay for medical or vet bills, or handle emergency situations can count on FreeFunder to come through for them with several features that are unique to this free fundraising site.
Some of FreeFunder key Features that no one else has include:
- FreeFunder will actually donate up to $70 to your fundraiser just for sharing on Facebook.
- FreeFunder has a Text-to-Donate feature (for free) that allows you to create a keyword and have people text that keyword to make their donation, which makes offline fundraising faster and simpler, allowing Instagram sharing.
- FreeFunder allows website owners to embed the fundraiser as a widget on their own website so that their visitors can access the fundraiser and donate without ever leaving the site.
A crowdfunding platform with $0 platform fees is already great, but when you add the unique features listed above, along with things like better page customization, team members, and fast customer service, you can see why FreeFunder is rising quickly in popularity.
2. Kickstarter
Kickstarter was created in 2009 with the idea that networking allows creating a community that will be ready to help you fundraise your campaigns. Their main goal is to help creative people bring their projects to life because they believe art-world elites and entertainment executives should not define our culture. Therefore, for your campaign to qualify, you must offer a project that creates something to share with others, is honest and clearly presented, does not fundraiser for charity, does not offer equity, and does not involve prohibited items.
There are five pillars Kickstarter stands on, and you have to consider before setting up your fundraiser through them:
- Kickstarter wants to help bring creative projects to life.
- Kickstarter’s operations will reflect their values.
- Kickstarter supports a more creative and equitable world.
- Kickstarter is committed to the arts.
- Kickstarter is committed to fighting inequity.
3. GoFundMe
GoFundMe has dominated the personal crowdfunding space for a decade, and in recent years dropped their 5% fee in most countries in order to adopt the tipping model (similar to FreeFunder). The size and familiarity of GoFundMe provides people with a sense of security because almost everyone has heard of the platform, but being as big as they are can mean that your fundraiser has the potential to get lost in the sea of millions of other fundraisers. That said, some of the biggest fundraisers have raised millions of dollars after natural disasters and some other tragic headline-capturing events due to the nearly universal awareness people have about GoFundMe.
GoFundMe campaigns work in three steps. First, you start your fundraiser by setting a goal, telling your story, and sharing a photo or a video. Then, you share it with your friends through email, text, or social media. Finally, you manage your donations by accepting them, thanking your donors, and withdrawing the funds.
4. Indiegogo
In 2008, Danae Ringelmann, Eric Schell, and Salva Rubin came together to create a platform that would allow people’s ideas to come to life. From personal experience, they understood no matter how innovative your idea was, you would not always receive the funding to bring it to life. For that reason, they built a platform that empowers creative ideas.
Indiegogo is primarily a platform for entrepreneurs looking to raise funds to bring their projects to life. By creating a campaign through this website, those who donate will be part of the project from the very beginning: learning about the concept, seeing the prototype, witnessing the production, and then celebrating the shipping of every product.
5. Mighty Cause
Last but not least, Mighty Cause was founded in 2006 with one goal in mind: helping nonprofits. The small team behind this platform knows exactly what it is like to work for a nonprofit, so they are trying to make it easier for those organizations that need funding to get their projects going.
As a digital crowdfunding platform, they offer state-of-the-art online and mobile-friendly products. Among their features, users can find online fundraising, donor management, team and even fundraising, custom donation pages and widgets, giving day platform, and personal crowdfunding. They offer these options for a low price and great technology.
Crowdfunding has become a top-rated resource in times of need. People have realized a community can be extremely helpful and hopeful when times are tough, and money is needed. These top 5 crowdfunding platforms for 2021 give you the tools and features required to lead a successful campaign.
