The best crowdfunding plartforms in Australia

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There has been an unprecedented growth in crowdfunding platforms in Australia. This a contemporary new approach for those seeking financial support for various projects through fundraising. It has helped entrepreneurs, communities, commercialisation units, and inventors get ideas off the ground in Australia. One of the greatest benefits of crowdfunding is to either gauge the market response or test the product at the initial stage. This can be accompanied by a customised experience, early release of the product, and exclusive access to the product. These platforms provide initial funds where rewards are fulfilled at the end of the campaign. For instance, crowdfunding campaigns that were conducted in 2019 raised over AUD 34.5.

Campaigners should understand the difference between donation-based crowdfunding and reward-based crowdfunding. Reward-based allow campaigners to receive the funds when they meet their goals while donation-based allows them to keep the funds regardless of whether they hit the goals or not. Here are some of the best crowdfunding Australia:
1. Mycause
It’s one of the top platforms that allow Australians to raise money for projects.
Pros:
– No set-up fee.
– Offers 24/7 customer support.
– Allows all causes either personal or charity based.
– Both reward-based and donation-based options available.
Cons:
– Does not involve commercial crowdfunding.

2. GoFundMe
It welcomes individuals to raise capital for group or personal causes.
Pros:
– No start-up campaign fee.
– Wide range of campaign purposes such as sports and education are supported.
– Mobile friendly.
Cons:
– Stripe account is needed to receive funds.

3. Everydayhero
It’s a plausible platform to the Australia audience.
Pros:
– Offers a wide range of charity events in Australia.
– No restriction of financial donations.
Cons:
– Set up fee is needed.

4. Chuffed
This focuses on supporting campaigns for community, social or political causes.
Pros:
– Step by step guide on promotion campaign.
– Do not charge a commission fee.
Cons:
– Only accessible via email.

5. Gofundraise
The platform welcomes financial support of individuals towards charitable events.
Pros:
– No start-fee.
– The best platform for charities.
Cons:
– Personal causes are not allowed.

Written by Rafael Ryan