Crowdfunding is yet to take India by storm. But this hasn’t affected the enthusiasm of the Indian crowdfunding sites which are doing their best in spite of regulatory hurdles. Crowdfunding India Is a growing market.
Most of the crowdfunding sites in India are donation-based platforms. So you will be offered gifts such as T-shirts, movie tickets, DVDs etc. in return for your investment in the projects listed on these sites. Let’s have a look at the top crowdfunding sites in India.
BitGiving is a crowdfunding platform that is dedicated to social causes, such as female empowerment, poverty alleviation, education and other worthy social campaigns. It is meant to help charities and non-government organizations raise funds for their projects.
BitGiving is open to hosting projects by both individuals as well as organizations. BitGiving hasn’t raised much money so far – just under $100,000 – but NGOs in India lack funds, so any help is appreciated.
Milaap is another crowdfunding platform that is targeted at social causes and works for poverty alleviation in India. However, unlike other crowdfunding platforms of its type, it doesn’t simply donate the money to poor individuals, instead Milaap offers loans to the poor and underprivileged, at a low interest and then expects the loan to be repaid.
The goal is to make the poor financially independent and responsible citizens, and not just offer doles. Milaap is a very successful crowdfunding platform and has so far raised over $5 million, which is excellent. 100% of the money collected by Milaap goes to poor borrowers. Learn more about Crowdfunding India and the Top Crowdfunding Sites in India now.
Ketto is a successful crowdfunding platform that has so far raised over $10 million. The advantage of raising funds on Ketto is that you are not penalized if you fail to raise the full amount. No matter how much money you raise, that gets disbursed to you. In return, you will be expected to offer rewards to your financial backers. Most of the campaigns on Ketto are for social causes or projects run by individuals. Ketto charges a processing fee of 5%.
Start51 is a relatively new crowdfunding platform which hasn’t raised much money so far, but looks quite promising and belongs to Crowdfunding India and Top Crowdfunding Sites in India. It is targeted at financing film makers, music producers, designers and other types of artistic individuals. It is yet to make a mark in the Indian crowdfunding scene, but has a decent design and interface, and is quite user friendly. It charges a processing fee of 5%, which is on the high side for such a new service.
Catapoolt is a new crowdfunding site that has a simple user interface and a good collection of projects. Catapoolt charges a small upfront fee of $25 and offers three different plans for hosting a project. The Standard plan charges a 10% fee, the Premium plan charges a 15% fee and the Advanced plan charges a fee of 15% based on the services offered. Catapoolt is still a relatively new site and has raised around $500,000 so far.
Conclusion about Crowdfunding India
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