What Is Crowdfunding?

Crowdfunding Definition

Crowdfunding is the practice of raising funds online with the help of a large group of people who support one’s chosen cause.

Crowdfunding Meaning

A donation-based crowdfunding website is a platform where you can fundraise for a specific cause and receive money online from people across the country. You can crowdfund for almost anything, whether you want to start a fundraiser for a cause close to your heart or if you want to publish a book or create your own business and need help covering your expenses.

An individual or NGO that starts the fundraiser is called the campaigner, and people who support the cause by contributing some funds are donors. Anyone in need of financial assistance can create a fundraiser for different causes like medical, personal, social, and creative. People who believe in your cause will contribute to your fundraising campaign. Best crowdfunding sites for personal or social causes make it easier for people to support individuals and communities requiring immediate financial assistance.

How Does Crowdfunding Work?

Let’s try to understand how it works and what is the best site to raise money. Usually, crowdfunding in India involves four significant parts given below:

• Start a fundraiser on the best crowdfunding platform- ImpactGuru, in just a few minutes by filling in all the relevant details!
• Get your fundraiser verified by uploading all the relevant documents required.
• Share your fundraiser on different social media platforms for maximum reach, which will help you raise the goal amount quickly and effectively.
• Withdraw the funds raised at any point during the fundraising journey and get timely access to urgent financial support!

If you still have doubts about crowdfunding and how it works, don’t hesitate to contact us at 1800 891 2903 to get immediate assistance from our customer support expert.

One of the most trusted and best crowdfunding sites In India is ImpactGuru. But, ‘WHY CROWDFUNDING WITH IMPACTGURU?’ ImpactGuru charges one of the lowest platform fees, and a fundraiser campaign can be started for any cause from anywhere across the country. Unlike lengthy loan procedures and documentation, crowdfunding requires little paperwork. Compared to loans, you do not have to repay the amount raised through crowdfunding, nor do you have to pay interest.

How Is Crowdfunding Different From Traditional Fundraising?

To put it simply, consider crowdfunding to be a group assignment.

When a group of people works together to achieve a common goal (in this case, raising funds), each member plays a unique role. Previously, traditional crowdfunding methods such as galas, events, auctions, and rallies were used. Individuals and organizations participate in these events, and the funds raised or donated by participants are used to further the cause of the crowdfunding campaign. The digital world changed the face of crowdfunding over time. It evolved from traditional fundraising methods to online crowdfunding.

Sometimes, people confuse whether crowdfunding and fundraising are the same or different. Crowdfunding is one part of fundraising. In fundraising, anyone can raise funds from various sources like a corporate, a bank, or a venture capitalist if you are a startup. However, online crowdfunding only comes from people who resonate with your cause.

In the same way, crowdfunding and traditional fundraising are different altogether. As crowdfunding is being carried out online, it is easy for people from across the country to notice your cause’s importance. People can donate and help you achieve your fundraiser goal quickly with just a click. But compared to online fundraising, traditional fundraising has boundaries, like people apart from the local community may find it challenging to recognize and donate to your cause.

Traditional fundraising is time-consuming and expensive in relation to online crowdfunding. As in traditional fundraising campaigns, people find meeting people directly to explain their cause time-consuming and challenging. Besides this, they also have to bear the cost of marketing and other variable expenses to promote their campaign to many people.

What Are The Advantages Of Raising Money Online?

An online fundraising website has made it easy for everyone who wants to raise funds or donate to any particular cause on the internet. Some of its advantages that attracted many to fundraise and donate for a cause they resonate with are:

• Easy to use and a more comprehensive reach

  Any newbie starting a fundraiser or someone well-versed in online crowdfunding can raise funds quickly and more conveniently with an easy-to-use design. Best fundraising sites on the internet give a person better reach than traditional fundraising mediums, where people need to do in-person solicitation.

• Save money and time by raising money online

  Online fundraising sites with no fees automate the whole crowdfunding process, which helps you save time and money. You can easily use a dashboard, update, and share fundraisers quickly with many people at your fingertips through a mobile app. You start receiving raised funds directly to your bank account. It helps you save money as traditional marketing involves the different costs of marketing to promote. At the same time, with online crowdfunding, anyone can freely do marketing and reach a larger audience through social media platforms.

• The power of social media

  Social media allows us to reach out to family, friends, and even strangers worldwide. A great place to start is by asking your network of friends, family, neighbors, and colleagues to share your fundraiser on their social media accounts. This can lead to an exponential increase in the number of people viewing your fundraiser, making it easy for people to donate with just a few clicks.

• Transparent and trustworthy process

  Free online donation platforms help donors understand how their funds are being spent. Also, a campaigner can easily track their fundraiser progress on their dashboard and know why they have not been able to raise funds quickly.

What Are The Different Types Of Online Crowdfunding?

ImpactGuru practices donation-based crowdfunding on its platform, i.e., helping people raise money online with no fees involved through donations. Donation-based crowdfunding is legal in India as per SEBI regulations. The different types of online fundraising options include:

• Medical crowdfunding

  Medical fundraising is a process through which individuals, NGOs, communities - basically anyone - can start a medical fundraiser for patients with heart, kidney, rare diseases, cancer - any ailment and diagnosis. Medical crowdfunding also helps frontline workers, acid attack survivors, domestic abuse victims, disaster survivors, and more.

• Personal crowdfunding

  It can be difficult to see your loved one go through some challenging phase in their life, but you can’t solve their problem of getting their job back or making them healthy again. One thing you can do to manage their challenging time or help reduce their burden is to start a fundraiser on the best crowdfunding sites for a personal cause.
  It is a type of crowdfunding that supports people in covering unanticipated personal costs, like raising funds for a child’s education, helping a family raise funds for their basic necessities, paying monthly rent, helping a friend in need after an accident, loss of a job or any such crisis.
  You can also start an animal fundraiser to support stray animals’ daily expenses, like providing proper hygiene, healthy food, and regular veterinary care.

• Creative crowdfunding

  Suppose a person is working on a creative project or an idea. In that case, they can raise money through creative crowdfunding—for example, A filmmaker planning to make a feature film or starting an innovative research project.

• NGO crowdfunding

  Any NGO or charitable institution can raise funds for various causes like women’s safety, education, malnutrition, child safety, or any cause they believe in.

• Crowdfunding For Education

  Anyone who wishes to raise funds for education can opt for crowdfunding. Education crowdfunding is the medium of raising funds from many people online to cover education-related costs like tuition fees, university fees, school infrastructure, teachers’ salaries, etc.
  Education-based fundraising is a trusted and most viable option for students in India who want to pursue studies abroad but are forced to delay or quit due to a lack of financial support.

Why Choose ImpactGuru For Raising Funds Online?

Managing finances can be challenging whenever a financial need arises for a medical cause or a non-medical cause. Loans that require a lot of time and due process are hectic. It is also a big NO to withdraw funds by setting up a time or fixed deposit! Amid all our efforts to make these arrangements, the clock is ticking, and we may miss out on a lot to raise the funds we need.

If it is a medical emergency, patients with life-threatening illnesses often have to wait to start treatment or surgery due to a lack of funds. Recently, different ways to raise money appeared in financial management games. One of them is “Crowdfunding,” which has become popular in India but has been used for a long time on a global and individual level worldwide.

We will try to understand some reasons that show you are dealing with a financial crisis:

• You lack an emergency fund
• You are not always able to pay your bills on time
• You took out loans to pay off other loans

Why is ImpactGuru The Best Fundraising Platform For Individuals And NGOs?

• No payback policy
• Based on how widely you share your fundraiser with people, you can raise money in days or hours
• With our online crowdfunding platform, you can get donations from people and places that wouldn’t have been accessible otherwise
• Free 24*7 customer support
• Instant fundraiser approval and withdrawals
• Free Android and IOS mobile app for crowdfunding
• Get premium yet easy-to-use tools like the user-friendly dashboard, multilingual language support, and full due diligence to ensure trust & safety.
• pricing plans starting from as low as 0%

You will not lose any savings if you run a fundraising campaign on ImpactGuru for your cause; crowdfunding ensures that the savings are intended for a secure future.

How To Raise Money Online With ImpactGuru?

An online fundraising platform is a medium of raising funds online for causes that an individual, community, NGO, or organization is passionate about. ImpactGuru is the best donation-based crowdfunding platform where thousands have received the financial support they require. The best part? There is no payback because you get personal donations online.

Starting a fundraiser on ImpactGuru takes only 5 minutes - with these steps.

• Step 1: Click on Start A Fundraiser

  Visit ImpactGuru’s website and begin fundraising by adding relevant details.

• Step 2: Choose Your Cause

  Example: Choosing to crowdfund for “personal” needs would mean that you want to raise money for anything ranging from covering the fees of your chosen university, dance lessons for your younger sister, or even securing funding for a passion project.

• Step 3: Submit Relevant Documents.

  These will vary depending on which cause you are raising funds for. So, for example, a medical cause would require hospital bills, while a creative cause would not.

• Step 4: Personalize Your Story

  Share the reason behind why you are raising funds. Upload pictures and videos to help your audience, i.e., potential donors, to help relate to your cause.

• Step 5: Share Your Story

  You can begin sharing your story as soon as the fundraiser is created. Meanwhile, ImpactGuru will also verify your cause to help it win the trust of more and more donors.

What Is Crowdfunding For NGOs?

Crowdfunding is the medium of raising funds for a specific cause from a large group of people who show their support for that cause by making donations. Fundraising platforms help nonprofit organizations across India– from the biggest to the smallest – work on various causes like education, child welfare, women empowerment, and many more to raise funds online.

Online fundraising platforms support these NGOs by providing facilities like wider reach, faster transactions, and reduced fundraising costs. Donation-based crowdfunding offers NGOs a perfect platform for fundraiser campaigns to use social media’s power to raise funds faster.

Any registered NGO can receive the required funds through donation-based crowdfunding, which is conducted virtually. Online crowdfunding helps you quickly share your fundraiser with a large group. Due to this, many NGOs are opting for online fundraising.

You can start your fundraising journey on ImpactGuru by following a few simple steps given below:

• Start a free fundraiser by adding all the relevant details
• Share your fundraiser with your extensive social media circle to raise funds quickly.
• Get quick support from thousands of generous donors online.
• Receive donations: The funds are securely transferred to the beneficiary’s account.

Suppose you are an NGO and wish to receive contributions in foreign denominations; FCRA (Foreign Contribution Regulation Act) registration certificate is compulsory.

What Is Cancer Crowdfunding?

Cancer crowdfunding is the easiest and most effective way to raise money for cancer treatment costs, including chemotherapy, surgery, radiotherapy, or immunotherapy. In cancer crowdfunding, any individual or family can receive funds online from generous donors across the country to help cover cancer treatment expenses.

Cancer crowdfunding has given people a new financial alternative to battle cancer with early diagnosis and treatment. ImpactGuru makes it easy for people to raise money quickly and effectively to cover cancer treatment expenses. Here’s how:

Start A Fundraiser in just 5 minutes but keep the list of details ready for a quick fundraising experience that includes:

• Define your fundraiser goal
• Personalize your story to help the audience connect with it emotionally
• Include relevant pictures and videos in your fundraiser campaign
• For faster verification and approval, keep all your documents handy.

Share your story with friends and family members through:

• Social media, including WhatsApp
• Emails
• SMS

Receive Donations

• Withdraw funds raised through donations at any time during the fundraising journey
• Thank your donors
• Share updates regarding your health to let your well-wishers know how you are!

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