Crowdfunding has rapidly gained popularity as an alternative way for businesses to raise money. Largely because it doesn’t require winning over investors.
Since the pandemic started, we have seen capital becoming harder and harder to come by. This has taken a large toll on most businesses as some have been forced to downsize or close down completely.
Notwithstanding, there are many platforms where people can crowdfund to raise money. Whether you’re funding a startup, creative endeavour, or raising money for a cause or project, crowdfunding platforms can help you achieve that. The good part is that you do n0t have to pay back as the money you raise is free.
One such crowdfunding platforms is GoFundMe, the world’s largest crowdfunding platform.
What is GoFundMe?
GoFundMe is the world’s largest crowdfunding platform with a community of more than 50 million donors and over $9 billion raised so far. GoFundMe is changing the way the world gives.
With GoFundMe, it’s easy to raise funds for yourself, your family, or for the causes you are most passionate about. This can include anything from medical expenses, education costs, trips & aspirations, volunteer programs, youth sports, funerals & memorials, or animals and pets. Donors from all over the world can securely donate using any major credit or debit card.
Setting up a GoFundMe account is completely free.
How to set up a GoFundMe account
- Click “Start a GoFundMe” from their homepage.
- You will automatically be prompted to sign in or sign up for a GoFundMe account. If you don’t have a GoFundMe account, you can sign up with your name, email address, and password.
- After signing in, you will be prompted to create a fundraiser.
- The next step will be to enter the basic information about your campaign like title, the purpose of fund; personal fundraiser (for an individual or organization) or certified charity fundraiser (for a charity or non-profit). You can also edit this later.
- Choose a goal amount; this reflects how much you’re looking to raise.
- Add an image to make your fundraiser more trustworthy.
- Write a compelling story this should cover who you are, what you’re raising funds for, and how the money will be spent.
You can now share the link to your GoFundMe online to start receiving donations.
How much does it cost to setup a GoFundMe?
The company charges a 0% Platform Fee for organizers. GoFundMe only charges 2.9% transaction fees + $0.30 per donation including debit and credit card charges.
What you should know about setting up GoFundMe in Nigeria
GoFundMe is currently available in 19 countries in the world. It is not available in Nigeria yet, but you can still leverage the platform to raise money by asking someone in one of the supported countries to raise money for you instead. This third party can help you set up and also add you as a beneficiary so that you can also track the progress of your fundraiser.