If you need money for your startup, to help people, or for a creative project but are looking for a not-so-traditional method, then you must try crowdfunding. You can raise funds from the general public through this method. But to gain people’s attention, you must choose the right crowdfunding platforms, as they can make all the difference. With numerous platforms available, each catering to different needs, it’s important to choose the one that best aligns with your goals.
In this article, we’ll explore the 12 best crowdfunding sites in India, helping you find the perfect platform to bring your idea to life.
What is crowdfunding?
Crowdfunding is a process by which people can raise money to finance their businesses, fund any social cause, accumulate money for medical treatments, and other reasons. People can ask for small contributions from a large number of people via the internet and utilize it for their needs.
Crowdfunding sites provide a platform for fundraisers to interact with the public and raise funds. Fundraisers can start their campaigns on crowdfunding sites to increase awareness of their project or business. These platforms work as a bridge between those who need funds and those willing to invest or donate.
How Does Crowdfunding Work?
A successful crowdfunding campaign consists of 4 stages:
- Platform Selection: Here, the fundraiser evaluates the various available crowdfunding platforms and applies them to any selected platform to launch their campaign.
- Platform Acceptance: Now, you have to submit the documentation and fill out the form so that the platform assesses and accepts your application.
- The Pitch: After that, you have to pitch your reason for crowdfunding to the platform’s team. After approval, your campaign will be live on the portal for public visibility.
- Receiving Payout: Once the campaign is live, people can donate or invest money, and you can receive the payout after the campaign is closed and the target is met.
Usually, the donors or investors get the following incentives in exchange for their money:
- Discount Coupons
- Equity
- Exclusive content
- Early access to any product or service
- Pre Order a product
- Free Merchandise
Let us now go through some of the best crowdfunding sites in India.
List of the Top 12 Best Crowdfunding Sites in India
1. Indiegogo
Indiegogo is a crowdfunding site that enables businesses, artists, political campaigns, and non-profit organizations to run campaigns and raise funds. The site boasts easy-to-use tools and campaign options. It also supports flexible funding, which allows you to take the funds even when your entire campaign has not been funded.
The InDemand feature allows you to raise money without a timeline to get extra funds. The platform has raised over 1 billion dollars across all the projects, fueling the ideas and passion of newcomers.
Key Features:
- Easy-to-use
- Flexible funding
- InDemand feature
- eCommerce integration
- Strong and active community
Fees: The platform fee is 5% with a fee of 3% and $0.20 per transaction, but when the campaign doesn’t originally run on Indiegogo, it becomes 8%. Depending on your transactions, they also charge transaction fees, transfer fees, or bank delivery charges.
Website: https://www.indiegogo.com
2. Kickstarter
Kickstarter is a well-known reward-based crowdfunding platform that accepts contributions in the form of pledges given by the general public (backers) to support your ideas, projects, and inventions. You can raise funds with any creative idea, like books, movies, etc. Rewards, gifts, shoutouts, or discounts can be given to attract more people. Till now, Kickstarter has funded over 2 hundred thousand projects and raised over 8 billion dollars.
Key features:
- Large and active community
- Supports creative projects
- Late pledges
- Pre-launch editor
- Backer survey
- Kickstarter marketing program
Fees: If a project is successfully funded on Kickstart, they collect a 5% fee from the funds collected and a payment processing fee of 3% + $0.30 per transaction.
Website: https://www.kickstarter.com/
3. FuelADream
Fueladream is a popular crowdfunding platform that allows people to raise funds for creative projects, community-led activities, charities, causes, and events, with an initial emphasis on India. They have managed over 750 campaigns and raised over INR 810 million in funds. The primary motive of the platform is to drive innovation and simplify funding.
Key features:
- Fixed and flexible funding
- Real-time campaign tracker
- User-friendly interface
- Email notifications
- Secure payment gateway
- Community engagement
- Backer management
- Multiple currency support
- Customizable campaign pages
Fees: Fueladream charges advance processing fees of INR 3000 + 18% GST per campaign, which are non-refundable. A 6% fee on the total amount collected is charged as a contract fee, and 3% of the total amount collected will be charged as payment processing costs.
Website: https://www.fueladream.com/
4. Ketto
Be it for a social cause, creative idea, animal welfare, or personal need, Ketto can help accumulate funds by creating customizable campaigns. They boast over 72 lakh donors and 3.2 lakh fundraisers. Ketto’s highly intelligent marketing tool will provide all insights along with marketing and promotion support for your fundraiser.
Key features:
- Personalized dashboard
- Easy-to-manage tools to boost results
- Get support expert
- International payment support
- Receive donations via any popular payment modes
- 24*7 expert support
- Easy payouts
Fees:
- Bronze: Free (0% platform fee)
- Silver: 5% platform fee
- Gold: 7% platform fee
The plans are divided based on features and tools.
Website: https://www.ketto.org/
5. GoFundMe
GoFundMe, a trusted leader in crowdfunding sites in India, allows you to raise money, especially for personal fundraising. It is not designed for commercial activities but to help gather funds for medical, emergency, memorial, education, charity, non-profit, and crisis relief. Since 2012, GoFundMe, with its acquisition of Classy, has raised over $30 billion.
Key features:
- Customizable campaigns
- Share your stories easily
- No platform fee
- Secure payment encryption
Fees: They charge no fees to start or manage your fundraiser but a transaction fee of 2.9% + $0.30 per transaction, which is automatically deducted from each donation.
Website: https://www.gofundme.com/
6. Milaap
Milaap started in 2010, is one of the best crowdfunding sites in India and is dedicated to personal, healthcare, educational, disaster relief, and social causes. With a community of over 30 lakh donors from 130 countries, they have the support of a large community to raise funds. You can easily start a fundraising campaign with Milaap.
Key features:
- Zero platform fees
- Extensive payment options
- Flexible funding
- Globally donation acceptance in multiple currencies
- Ability to withdraw funds in multiple installments
- Community engagement
Fees: Milaap charges no platform fees, allowing you to start campaigns for free. They rely on the generosity of their users to power the platform.
Website: https://milaap.org/
7. ImpactGuru
ImpactGuru is a fundraising platform where you can accumulate funds for medical treatments, making it one of India’s premier healthcare financing platforms for patients. The platform allows you to gather money for medical, transplant, cancer, child health, accidents, NGO, education, emergency, and other personal causes. You can create AI-based stories and videos to strengthen your appeal. ImpactGuru has funded over 25000 patients and has a community of more than 30 lakh donors.
Key features:
- Fund withdrawal
- Multiple donation methods
- Mobile-friendly platform
- Personalized fundraising dashboard
- Email and chat support
- Faster fundraiser approval
- Android and iOS app
- Real-time donation notification
- Relationship manager
- 7-day fundraising calendar
Fees:
- Self-driven: 0% platform fee
- Assisted: 5% platform fee
- Collaboration: 8% platform fee
Website: https://www.impactguru.com/
8. FundingX
FundingX is India’s premium reward-based crowdfunding platform for potential ideas and startups where finance, innovation, and technology can disrupt the market. They provide a comprehensive platform to start a campaign in no time.
Key features:
- Easy to use
- Reward-based platform
- Customizable campaigns
- Secure payment
Fees: FundingX has three funding plans: basic, plus, and premium, whose costs range from 5% to 12% of the total amount raised.
Website: http://fundingx.in/
9. Crowdera
Crowdera with multi-tier fundraising, AI-powered processes, and fundraising enablement allows you to raise funds for organizations, charities, and nonprofits. They have impacted over 1 million lives with 22,500+ fundraisers in 150+ countries. The platform will enable organizations to create visually appealing campaigns through digitization and advanced features that raise awareness and funds for their needs.
Key features:
- Friendly and hassle-free
- Team and multi-tier fundraising
- Payment button
- Enterprise platform
- Donation forms and management
- Tailored solution
- Reporting and analytics
- AI and ML
- Custom reports
- Complete control and customization
- Scale globally
- Endless support
Fees: Crowdera charges no platform fee.
Website: https://www.crowdera.com/
10. Catapooolt
Catapooolt is a crowdfunding platform that allows you to access funds for business and personal purposes. It is the first-ever platform to have a ‘Trusted Mentors’ panel to guide campaigns and projects. You can start a fundraiser in various categories like music, gaming, fashion, film, events, environment, social, startups, and more on Catapooolt.
Key features:
- Diligently selected projects
- Intuitive dashboards
- Global Partners
- Reward-based crowdfunding
- Expert guidance and mentorship
Fees: Creating and sharing the campaign is free. However, Catapooolt charges a fixed 10%+18% of 10% (GST) as platform fees for any amount raised.
Website: https://www.catapooolt.com/
11. Crowdwave Trust
Crowdwave Trust is an engaging, transparent, and cost-effective crowdfunding platform that aims to spread awareness and gather funds. They have raised over INR 1 crore and helped 50+ NGOs by supporting 100+ campaigns. You can create and host campaigns and charity events to gain attention. The marketing tools of Crowdwave will help you leverage your campaigns’ reach.
Key features:
- 100% secure payment
- No hidden costs
- One holistic platform
- Customizable campaigns and projects
- Social media and email promotion tools
Fees: No platform fee has been charged by them. However, to learn about charges in detail, please get in touch with Crowdwave Trust.
Website: https://crowdwavetrust.org/
12. Donatekart
Donatekart is India’s one-of-a-kind crowdfunding platform that allows donors to donate directly to products required by the NGO. Since 2015, Donatekart has partnered with over 1400 NGOs to raise 300+ crores with 5000+ campaigns. Starting a campaign on this online platform is straightforward. You need to add the necessary details and complete KYC, and once it is approved, your campaign page will go live.
Key features:
- Safe and transparent
- Regular updates
- Easy to use
Fees: It is completely free for both donors and NGOs.
Website: https://www.donatekart.com/
Conclusion:
Lastly, it is crucial to select the right crowdfunding platform for the success of your project. All the 12 platforms mentioned above boast unique features, designed to fulfill your fundraising needs. While choosing the platform for your needs, consider its strengths and focus on every platform thoroughly. With the right platform and a meaningful cause, your crowdfunding campaign can be the catalyst that turns your idea into reality.
Frequently Asked Questions (FAQs)
How do you find the best crowdfunding site for your startup?
To choose the best crowdfunding site for your startup, keep the following things in mind:
- Check platform focus
- Go through legal and regulatory compliance
- Assess its community and audience reach
- Understand funding models
- Evaluate platform fees and other charges
- Look for marketing and promotion tools
- Consider payment options
What are the types of crowdfunding?
The following are some types of crowdfunding:
- Equity crowdfunding is a traditional method where the business owners have to give a part of their shareholding to the investors in exchange for funding.
- Debt crowdfunding is similar to small business loans, in which businesses borrow money from individuals or investors at a fixed percentage rate.
- Reward-based crowdfunding is funding where funders offer products, services, or gifts to investors in exchange for a set amount of donation.
- Donation-based crowdfunding is for NGOs and charitable trusts. Here, people donate money to help otters and do not expect anything in return.
Which are the best crowdfunding sites in India for social causes?
Milaap, Ketto, ImpactGuru, Crowdera, Wishberry, and FuelADream are some of the best crowdfunding sites in India for social causes.
