Top crowdfunding sites in Australia

Why use a crowdfunding site?

Crowdfunding, which is a contemporary approach to fundraising, has become one of the most viable options for those seeking financial support for a cause. Crowdfunding platforms give communities, individuals and organisations, the opportunity to interact and support a worthy cause. Unlike business crowdfunding, personal crowdfunding does not offer stocks or equity in a business, but rather provides an avenue for individuals to raise funds with the support of their friends, family and work mates.and community.

Here is a quick snapshot of the pros and cons of Australia’s top crowdfunding sites.

Comparison of top Australian crowdfunding sites

1.      mycause

mycause is one of Australia’s top performing crowdfunding platforms which allows individuals to raise money for charities, projects or people they believe need assistance.

          PROS:

•  Invites all causes ranging from personal, project based or charity based
• Offers a 24/7 email and phone support system
• Free PR and media support
•  Keep all donations even if you don't reach your target
• No set-up fee
• PayPal and all credit/debit card payment options
• Ability to pledge your birthday and other important dates
• 0% platform fee for personal causes
• Australian owned and based in Australia

CONS:

Australia only

2.      GoFundMe

GoFundMe is also another top performer which also welcomes individuals to raise funds for personal and group causes.

          PROS:

• Invites a wide range of campaign purposes – e.g. education, sports, animals, medical etc.
• 5 minute email support system
• no start up campaign fee
• ‘Keep every donation you receive’

           CONS:

• No use of Paypal
• Cannot pledge your birthday
• No phone support
• Mandatory Stripe account to receive funds
• US based company

3.      Chuffed

Chuffed, another credible platform for fundraising, have a particular focus on supporting campaigns that aim to raise funds for social, community or political causes.

          PROS:

• Do not charge a commission fee to campaigners
• Step by step guide on how to promote your campaign
• Mobile friendly

          CONS:

• Only contactable via email
• Based in the UK

4.      Gofundraise

Gofundraise is another noteworthy crowdfunding platform in Australia that welcomes the financial support of individuals towards charities/charitable events:

          PROS:

• Provide a platform specifically for charities to utilize
• No start-up fee
• Contactable via phone and email

          CONS:

• Do not allow crowdfunding for personal causes
• Only with not-for-profit Australian companies
• Commission charged on all donations

Personal crowdfunding sites: What to look for

Below you will find 3 key factors that should be considered before launching a crowdfunding/fundraising campaign. Consider the list below to differentiate each company’s service and ultimately choose the best fitting platform to use for your fundraising effort.

Funding industries:

Whilst there are many crowdfunding platforms available to the public, various services are industry-specific, and therefore cater to a particular audience or cause. Choosing a service that will not limit funding capabilities is therefore highly necessary. Whilst some services may be welcoming of any personal cause (be it raising funds for medical bills or recording an album), others may be solely focused on supporting non-for-profit foundations and charities.

Most importantly, it is crucial that campaigners understand and consider the difference between pledge based (fixed) and donation based (flexible) crowdfunding. Flexible crowdfunding allows those campaigning to keep all funds raised, regardless of whether or not they reached their goal. Fixed fundraising services however, only allow campaigners to receive funds raised if they meet the fundraising goal. Should the goal not be met by the deadline, pledges will not be charged to a donors’ credit/debit card or PayPal account.

Costs associated

When selecting which crowdfunding platform to utilize, it is imperative that individuals consider if there are any costs associated in creating a campaign. Ideally, setting up a campaign should be achieved at a minimal cost, to allow for a stress-free and easy process. Typically, a fee of approximately 0 - 5% of funds raised will be charged across the board. Payment processing fees are also normally charged at the conclusion of the campaign, and it is therefore important that campaigners are aware of such fees before commencement.

Support

Campaigners should also consider whether the platform has a highly accessible support system that allows for email and phone communication, as well as PR and media support. The process of campaigning may be challenging and stressful for some, and it is therefore crucial that campaigners can find the necessary support when needed. Platforms that are responsive on all devices and are mobile friendly, should also be sought after when considering platforms to use.

Our pick, mycause. So, why choose mycause?

mycause present themselves as an Australian crowdfunding company who are committed to providing Australians with a platform to support a worthy cause. They give communities, individuals and organisations the opportunity to interact by supporting charities, projects or simply people that are in need of funds for personal reasons such as medical costs, surgery or bereavement. mycause understand the importance of being able to provide such a service at a minimal cost and hence, charge no set-up fee. They have also ensured that they are mobile friendly, allowing for easy access.

In addition to this, campaigners are given the option of running both a fixed or flexible campaign. This ensures that campaigners are still able to receive the money raised throughout the duration of the campaign, regardless of whether or not campaign goals have been met. By providing such a flexible approach to campaigning, mycause are ensuring that both campaigners and donors are aware that each campaign is valued, and each donation has the ability to make an impact. Mycause also welcome Paypal donations, allowing donors flexibility when donating.  

PR and media support is offered for free at mycause, which allows personal cause campaigns to reach an audience outside of your immediate network.

mycause understand that crowdfunding can be stressful and challenging at times, and as a result, offer their full support to those donating, those campaigning, or anyone who may have a general enquiry. This is demonstrated by their 24/7 email and phone system, that ensures enquiries can be made at any time.

In addition to this, mycause give the general public the unique opportunity to pledge their birthday and other special dates. This is particularly reflective of mycause values, as it demonstrates their heart for supporting people in need, at every opportunity possible. Given many people may not feel the need to start a campaign, the ability to pledge your birthday means people can support a charity of their choice, allowing another means of positive impact to be made amongst the community.

Best of all, mycause is 100% Australian owned and operated.