Top 15 Crowdfunding Platforms for Fundraising

Entrepreneurial dreams, revolutionary tech gadgets, or any innovative endeavor demand financial backing to materialize. Yet, securing funding for ideas alone proves challenging, particularly for startups struggling to attract investors and venture capitalists.

But not anymore. Crowdfunding websites have revolutionized funding for creative endeavors. Simply put, they offer a platform to pitch your project, idea, or startup to a global audience. If they’re interested, they donate in exchange for rewards. However, with numerous options available, choosing the right platform for your dream project can be daunting.

Worry not, as we’re here to assist. Ready? Here’s a curated list of the top 15 crowdfunding websites.

1. Kickstarter

Undoubtedly, Kickstarter stands as the most popular crowdfunding website, having facilitated the realization of well-known products like the Pebble Time smartwatch and OUYA game console. It hosts thousands of live projects across diverse categories including Art, Journalism, Food, and Technology. Since its inception, Kickstarter has secured over $2 billion in funding from more than 10 million backers, enabling the realization of nearly 100,000 projects. Starting a project is straightforward, provided creators meet the requirements. Backing projects on Kickstarter is open to anyone worldwide, with backers eligible for awards based on their pledged funding amount.

Pros: Essentially synonymous with crowdfunding, ensures maximum project visibility and traffic, operates on an all-or-nothing scheme where backers aren’t charged if the funding goal isn’t met.

Limitations: Involves a strict project approval process, limits project creation to select countries (Refer to note below), ineligible for charity-based funding.

Commission/Charges: 5% of total secured funding. Additionally, transaction fees of 3% plus $0.20 are applied per transaction for payment processing.

Note: Project creation is restricted to the following countries: US, UK, Canada, Australia, New Zealand, the Netherlands, Denmark, Ireland, Norway, Sweden, Germany, France, Spain, Italy, Austria, Belgium, Switzerland, and Luxembourg.

2. Indiegogo

Easy to get started with and a well-known name among crowdfunding sites, Indiegogo has been used to raise funding for projects like the Ubuntu Edge smartphone (although the funding goal wasn’t met). The website hosts numerous funding campaigns, including categories from Community and Education to Film and Writing. Over $800 million have been raised via Indiegogo, with over 9 million backers supporting projects hosted on it. It offers campaign creators various flexible funding plans for easier collection. Indiegogo also has a sister site, Generosity, focused on securing funding for social and charitable causes.

GoFundMe

Pros: Project creation available worldwide, Flexible project acceptance, Offers both Keep it all and All or nothing funding options, Analytics support.

Limitations: Lower project visibility compared to Kickstarter, Decreased project success rates.

Commission/Charges: 5% of secured funding. Additionally, transaction fees of 3-5% apply.

To secure funding for charitable or community causes, or pledge financial support, GoFundMe is an ideal platform. It’s focused on social fundraising but also supports personal events like family gatherings. Starting a campaign is simple, and GoFundMe offers 5-minute email support if needed.

Pros: Easy to use, Secured funding retention.

Limitations: Campaign creation limited to select countries, No PayPal support.

Commission/Charges: 5% of each donation. Additionally, payment processing fees range from 1.4% to 4.25%.

4. JustGiving

Primarily serving as a platform for streamlined donation processing for registered charities, JustGiving also facilitates fundraising for individual social causes. Donating is straightforward, accepting credit/debit card transactions. For UK-based charities and donors, donations can be made via SMS. Additionally, funds can be directly forwarded to charities with JustGiving references, updating the fundraising page accordingly. JustGiving operates on a Keep it All model, ensuring funds retention regardless of goal achievement.

Pros: Supports multiple currencies, Offers additional tax exemption through Gift Aid (for UK donors), Donations transferred weekly.

Limitations: Charities must register with JustGiving, Available primarily for UK-based charities, Limited to a few countries.

Commission/Charges: 5% commission on each donation, Plus a 2.95% transaction fee for payment processing.

5. YouCaring

YouCaring stands out as an excellent online platform for fundraising campaigns dedicated to social causes. Historically, it has ranked as the second most popular crowdfunding website for philanthropic endeavors. Users can initiate fundraising initiatives for various welfare causes like Adoption, Volunteer Projects, and Veterans, or contribute financially to existing campaigns. Setting target goals and deadlines is straightforward, with the flexibility to extend deadlines as needed. According to its data, YouCaring has raised over $335 million from a community of 4.5 million supporters. Donations are easily facilitated via credit/debit cards, without necessitating an account.

Pros: YouCaring does not charge any commission on donations and supports multiple social causes.

Limitations: No major issues were found.

Commission/Charges: YouCaring doesn’t charge anything except for payment processing fees of 2.9% + $0.30.

6. Razoo

Razoo simplifies online fundraising for individuals and non-profit organizations. You can customize campaigns with details like funding goals, deadlines, and impact levels for donations. It also facilitates “Giving Days,” 24-hour online fundraising events, featuring scheduled donations and immediate fund transfers.

Pros: Suitable for personal and team-based charitable fundraisers.

Limitations: High platform fees, Ambiguous website information.

Commission/Charges: 4.9% platform fees. Additionally, (2% +$0.30) per transaction for payment processing.

7. Ulule

Though not as established as other platforms, Ulule, with its growing impact, has secured nearly $50 million in funding and backed over 11,000 projects. Interested in more numbers? Check out Ulule’s live stats page. This European crowdfunding site hosts projects across diverse categories such as Music, Technology, Heritage, and Games, following an All or Nothing funding scheme where backers aren’t charged if the funding goal isn’t met.

Pros: Moderated project approval reduces chances of fraudulent campaigns.

Limitations: Project creation restricted to European Union countries, Pricing structure somewhat confusing.

Commission/Charges: Varies based on funds collected; starting at 6.67% for credit/debit card payments, and 4.17% for check/PayPal payments (For detailed breakdown, Visit here)

8. Patreon

Similar to Ulule, Patreon has swiftly gained popularity. It serves as a specialized crowdfunding platform primarily for Comic artists, YouTube content creators, and Podcasters rather than entrepreneurs. Patreon facilitates recurring funding, ideal for indie artists maintaining a regular schedule of artworks. However, it has faced significant hacking threats in the past, so caution is advised.

Pros: Offers recurring or per-creation funding options for patrons, ensuring sustained support. No geographical limitations.

Limitations: None in particular, except for the questionable account security measures (given the past hacking attack).

Commission/Charges: 5% platform fees. Additionally, 4-6% are charged per transaction as credit card fees.

9. CrowdRise

What’s (probably) most interesting about CrowdRise is that one of its co-founders is actor Edward Norton (Yep, The Incredible Hulk!). That aside, CrowdRise is a platform to raise funds for individual causes, registered charities, and popular events like marathons. Once a fundraiser profile is set up, it can be shared on social networks for visibility. It also offers custom branding, emails, redeemable reward points, and instant fund access.

Pros: Easy to use, Trusted by prominent charities and events.

Limitations: No discernible drawbacks, aside from quirky (yet amusing) questions in the FAQ section.

Commission/Charges: (5% or 3%) of each $100 donation, inclusive of credit card fees.

10. GiveForward

Designed for easy donation collection for individual and community social causes, GiveForward functions effectively. Alongside financial aid, the website offers diverse ways to support causes, such as sending household items and organizing meals. GiveForward reports raising over $180 million for various causes. It operates on the Keep it All scheme, allowing donors to retain their contribution even if the target isn’t met.

Pros: Strong community support for social causes, No mandatory goal or deadline, Personal fundraising coaches.

Limitations: Only available in the United States.

Commission/Charges: 5% platform fees. Additionally, a payment processing fee of (2.9%+$0.30) per donation applies.

11. RocketHub

RocketHub serves as a crowdfunding platform for musicians, entrepreneurs, scientists, filmmakers, and more. It operates on the Keep it All model, allowing funds to be retained even if the target isn’t met. Notably, RocketHub has been endorsed by the US Department of State.

Pros: Popular and endorsed by prominent organizations, offers a wide range of creative crowdfunding opportunities.

Limitations: Higher costs if funding goal isn’t reached.

Commission/Charges: 4% of donation (if goal is reached), 8% (if goal isn’t reached). Additionally, 4% is charged for credit card handling fees.

12. WishBerry

For those in India seeking funding for their next big idea, WishBerry warrants attention. It facilitates financial support for various creative projects. Projects undergo a rigorous approval process and are accepted only if substantially developed, not merely conceptual. Additionally, creators must provide rewards to backers, increasing funding success rates. WishBerry employs the All or Nothing model, returning funds (minus processing charges) if the goal isn’t met.

13. Ketto

Pros: Tailored for India, but open to global contributions (credit cards only), Consulting available for rewards, pitch videos, etc., with analytics support.

Limitations: Mandatory 60-day duration, no PayPal support.

Commission/Charges: INR 2,500 (~$36) upfront, plus 10% commission on funds raised and 14% service tax on platform fees (excludes total amount raised).

Presenting Ketto, another crowdfunding platform catering to India, allowing you to raise funds for creative pursuits (e.g., Music, Fashion, Tech) and social causes (e.g., NGOs, charities). Having amassed over $100 million for 4000+ campaigns, Ketto boasts a more lenient approval process compared to WishBerry. Project creators receive personalized account management pre-launch. Moreover, Ketto offers unique features, including Cash on Delivery for collected funds.

Pros: Keep it All scheme ensures fund delivery regardless of target attainment, No set deadlines.

Limitations: None specific, though information on usage charges remains ambiguous.

Commission/Charges: 8% of funds raised. Additionally, there will be payment gateway charges.

14. Experiment

To contribute to scientific research advancement, Experiment is the ideal platform. From dinosaur fossil excavations to historical monastery studies, Experiment enables you to crowdfund numerous scientific endeavors. Projects undergo a stringent approval process before acceptance. The All or Nothing model ensures backers are only charged if the funding goal is met.

Pros: Specific focus on funding scientific research. Results are shared with backers.

Limitations: Only available in the United States.

Commission/Charges: 8% platform fee charged.

15. Fig

Fig is a curated platform enabling crowdfunding and investment in games. Despite its recent launch in August 2015, Fig challenges conventional crowdfunding by offering early investors/backers a share of the profits upon game release, in addition to traditional rewards. Notably, Fig recently surpassed the funding goal for the platform game Psychonauts 2, setting a new record for video game crowdfunding.

Crowdfunding Sites for Fast-tracking Your Creative Ideas

Pros: Direct focus on gaming industry, Innovative approach to involve early backers as profit partners, All or Nothing funding model.

Limitations: Exclusive to the United States, Limited to one or two active projects concurrently.

Commission/Charges: 5% of total funds raised, with an additional potential 5% fee on game sales, subject to specific agreement terms.

With the rise in popularity of crowdfunding platforms, securing financial support for your next creative venture, whether it’s a game, social cause, scientific research, or any other idea, has become more accessible than ever before. Explore these platforms and share in the comments which one(s) you’ll choose to back your vision.