Crowdfunding Vs. Group-Funding
One of the questions that always crops up when we are talking to people about Shareagift is what is the difference between group-funding (what we do) and crowdfunding? In some ways they are quite similar and in others they are very different. In order to answer this question we need to look at the key features of both, let’s start with crowdfunding.
..is where a number of unrelated people back or invest in a project.
..has a limited deadline, which is usually thirty days.
..is usually restricted to specific rules where certain campaigns are not allowed.
..cannot be used by private individuals or charities.
..usually has a rule where if the goal is not reached the raised cash is refunded.
..can be difficult, as when you create a campaign you usually need to provide detailed and accurate information about what you are raising money for.
..can take a long time to set up.
Group-Funding (Social Gifting)…
..is where groups can fundraise for anything and everything.
..is specifically designed for private groups, clubs, communities, families, and charities.
..can have no deadline.
..can be made public or can be kept private as an invite only campaign.
..is ideal for group gifts, personal projects, community projects, emergency funds, medical treatments and charitable causes.
..can be used to raise funds for any type of campaign but is not suited for financing products or start-ups.
..is quick and easy to set up, customise and activate.