In India, crowdfunding has evolved as a popular technique for obtaining cash for a variety of causes. Crowdfunding websites for startups in India have made it simpler for individuals, companies, and non-profit organizations to raise cash for their ideas and efforts since the introduction of technology and the internet. This article will go through the top ten crowdfunding platforms in India.
Top 10 Crowdfunding Websites for Startups in India
As the entrepreneurial spirit among Indian youth is touching new heights, so is the popularity of crowdfunding websites in India. The following is the list of the top ten crowdfunding platforms in India:
1. Fuel A Dream
Fuel A Dream strives to effectively and interactively link campaign creators and donors. The company aims to promote openness and accountability while driving innovation and simplifying access to finance through crowdfunding in India.
Fuel A Dream promises to make crowdsourcing the preferred means of generating funds in India in order to revolutionize old methods of supporting ideas, projects, events, and organizations. Over the two prior years of its presence in India, Fuel A Dream has successfully handled over 250 campaigns, raising over INR 15 crores.
2. FundRazr
FundRazr is a crowdfunding website that helps people, nonprofit organizations, and businesses raise funds for various causes and projects. It has an easy-to-use interface and tools for creating and promoting campaigns.
Users can create fundraising targets, promote their campaigns on social media, and collect money from supporters. It also offers assistance and tools to campaign creators to help them maximize their fundraising efforts.
3. Ketto
Ketto, an India-based platform, provides a diverse range of initiatives in sectors such as healthcare, schooling, sporting events, animal welfare, as well as personal care. The Mumbai-based portal also has an “Urgently Fund Needed” section, which provides backers with tax breaks. Non-profit organizations have used Ketto for fundraising since its introduction in 2012.
Furthermore, the website does not need the project to be fully financed for its creator to collect the funds previously raised. Ketto also works to raise attention and promote various issues by assisting activists. Ketto has been used to generate donations for a variety of causes by celebrities ranging from Bollywood star Amitabh Bachchan to the Nobel Peace Prize recipient Kailash Satyarthi.
4. Kickstarter
A list of crowdfunding firms would be incomplete without mentioning Kickstarter. It is among the most well-known participants in the field. Kickstarter has a following for every product, from jewelry, gaming systems, and computers to outerwear, online music players, and juggling cubes.
As of 2021, Kickstarter has over 213,000 completely funded projects and has raised over $6.29 billion from 20.5 million supporters.
5. Impact Guru
Impact Guru is India’s best healthcare finance platform for patients, developed in Mumbai by Piyush Jain and Khushboo Jain. Crowdfunding allows individuals to raise cash for medical bills such as chemotherapy for cancer, transplantation, accidents, or other situations. Impact Guru collects an enormous amount of online donations to make it simpler for people to acquire the financial help they require.
So far, in collaboration with other organizations, the firm has helped mobilize roughly INR 150 crores (or US$20 mn) via crowdfunding activities. ImpactGuru has won acclaim and prizes for its unique platform as well as for its effective fundraising efforts.
6. GoFundMe
People may utilize the crowdsourcing website GoFundMe, run for profit by GoFundMe Inc., to raise money for a broad range of occasions, encompassing life milestones like graduations and celebrations and difficult circumstances like accidents and diseases.
Crowdfunding has transformed the way Indian entrepreneurs and individuals raise funds, and it has made money and resources available to a variety of organizations. Crowdfunding has given new life to unusual and imaginative ideas while also drawing attention to a variety of societal challenges. Crowdfunding portals in India have democratized financing and provided new chances for aspiring businesses and social activists.
7. Catapooolt
Satish Kataria is one of the founders of this platform. Catapooolt lets you raise funds for social campaigns, business ventures, etc. Three types of crowdfunding are available, reward-based, donation-based, and equity crowdfunding. Its the first-of-its-kind in India, an industry-backed and highly rewarding crowd-engagement platform for movies, music, and performing arts.
8. Indiegogo
Indiegogo is the offspring of Amazon and Kickstarter. The first stage of Indiegogo is to raise money because campaigners may sell the items on the same site after the undertaking is successfully financed.
This is especially advantageous because if somebody likes the item sufficiently to contribute to it, why would they not buy it? However, this disadvantages many entrepreneurs because Indiegogo focuses on physical items rather than services.
9. GoCrowdera
GoCrowdera, a new crowdfunding website launched in 2014 by two Indians in California, is a free fundraiser. GoCrowdera has assisted NGOs, individuals coping with personal concerns, disaster relief activities, etc. It has raised a stunning $537,000 in only three years and continues to grow astoundingly.
The platform was founded by pals and a third investment and has yet to be monetized. GoCrowdera is committed to keeping its services free since doing good should not be punished. It’s a fantastic forum if you’re attempting to raise awareness about a social problem or need assistance organizing campaigns. The firm profits from the CSR initiatives of corporations and businesses that benefit from Crowdera.
10. Milaap
Milaap, another Namma Bengaluru-based crowdfunding company, began as an avenue for small-term financing for rural Indians and to assist low-income households with schooling, happiness, basic hygiene, and water.
Milaap has over 120 nations as donors and has financed over 100,000 initiatives, raising approximately $12.7 million. They believe in donating to the less fortunate and lending a helpful hand in medical situations.
Why Is Crowdfunding Evolving in India?
Crowdfunding has changed traditional fundraising techniques by creating a platform that links people with ideas and those with the means to support them. It has democratized the fundraising process, allowing anybody with an appealing concept to reach a worldwide audience.
Crowdfunding platforms additionally make it simpler for investors to locate projects that match their interests while backing causes that are important to them. Crowdfunding platforms’ openness and accountability have also enhanced confidence and trust in the fundraising process.
FAQs on Crowdfunding Websites for Startups
Here are the frequently asked questions on crowdfunding websites for startups:
How does the crowdfunding process work?
Crowdfunding is the process of obtaining money from many individuals, usually using an internet platform. Fundraisers start a campaign and set a financing target, and donors chip in tiny sums to assist them in accomplishing that goal.
What kinds of projects are eligible for crowdsourcing funding?
Crowdfunding may be used to support a wide range of initiatives, including artistic endeavors, philanthropic causes, corporate endeavors, and personal endeavors.
What are the fees that crowdfunding sites charge for their services?
Crowdfunding sites commonly charge a fee based on a percentage of the total cash raised, typically 5-10%.
Is crowdfunding regulated in India?
The Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) regulate crowdfunding.
At last, crowdfunding has changed how individuals fund-raise in India. Connecting them with an overall crowd has empowered people, business visionaries, and non-profit associations to understand their points.
For people wishing to accumulate cash, the best ten crowdfunding sites in India give different other options, including imaginative drives, charitable causes, business endeavors, and individual undertakings.
Like this article? Then, Read More:
