FundRazr

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FundRazr
Web address fundrazr.com
Slogan Crowdfund Anything. Anywhere.
Type of site
Crowdfunding
Available in English
Launched 1 September 2009 (2009-09-01)
Current status Active

FundRazr is a Canadian crowdfunding site and Facebook app first released in 2009. It allows users to set up crowdfunding pages and/or embed fundraising apps on their Facebook pages to raise money for a variety of causes such as medical care, memorials, and animal rescue causes.[1]

History

FundRazr was founded in 2008 by Daryl Hatton. The head office is located in Vancouver, Canada. The platform was initially a Facebook app that allowed users to crowdfund money over Facebook.[2] It has since developed into a full crowdfunding site.

FundRazr was the first crowdfunding platform to provide a collaborative community payment model, wherein funds are deposited directly to a company or cause—an example of which is their partnership with Heritage Education Funds to allow families to crowdfund directly to a Registered Educations Savings Plan (RESP).[3]

In November 2015, FundRazr partnered with Place2Give to enable users to crowdfund directly for any registered charity in North America capable of issuing tax receipts directly from FundRazr using the GIVE_api.[4]

Business model

FundRazr uses the donation/perks crowdfunding model, where users keep everything they raise minus the 5% transaction fee.[5] A fee is not charged if no fund is raised. FundRazr allows users to create a campaign page for their cause. The page can then be shared through social media, email or embedded onto a third-party website to solicit donations from supporters. Supporters contribute to a cause through comments, shares, likes, and donations, which are all visible on Facebook.[6][7] FundRazr is in partnership with PayPal which allow users to deposit and withdraw funding.[8]

On 20 August 2013, FundRazr introduced "Crowdfunding as a Service" technology, which allows web publishers and companies to run crowdfunding service on their site.[9] FundRazr subsequently announced its first official PoweredBy partner, HealthLine on 17 December 2013.[10]

As of 2013, illness, medical and health-related causes represent 58% of money raised. Memorials/tributes represents another 12%. On 28 February 2013, Fundrazr announced that it had raised $20 million for its users.[11][12][13][14] In May 2013, FundRazr announced that it had raised $25 million from 37,000 campaigns.[15][16] As of March 2014, FundRazr has raised $44 million.[17]

Awards

  • 2015 Vancouver UX Awards Nominee - UX for Good [18]
  • 2013 UK Trade and Investment Global Competition Winner[19]
  • 2013 BCTIA Technology Impact Award - Most Promising Start-up[20]
  • 2013 Vancouver Social Media Award - Best Social Media Campaign (non-profit)[21]
  • 2013 #30 on Profit`s Hot 50 Rankings[22]
  • 2014 CFWR Top UK Donation and Reward Crowdfunding Site[23]

Notable projects

Rank Total raised Project start Project description
1 $1,040,687 October 2015 Researchers at the American Gut Project, the world’s largest crowdsourced, crowdfunded science project, has raised more than $1 million from over 6,500 “citizen scientists” who have agreed to have their microbiomes sequenced.[24]
2 $1,007,356 March 2012 Professional Gamer Athene's project Operation Sharecraft raises over $1 Million (including a matching grant of $500,000 from DC Entertainment) for East African Relief by Save the Children.[25]
3 $414,869 July 2011 Wikileaks Staff Legal Defence Team raises £233,650 as of 7 November 2013 for Wikileaks staff costs and Julian Assange's legal defence.[26]
4 $110,536 November 2015 Over $110,000 raised for Peterborough Mosque that was attacked and burnt.[27]
5 $107,742 November 2013 Over $100,000 raised for Australian King Hit victim.[28]
6 $103,034 December 2013 Over $100,000 raised for father with incurable brain cancer[29]
7 $103,014 August 2013 Wikileaks Staff Legal Defence Team raises $63,969 as of 7 November 2013 for Edward Snowden's legal defence[30]
8 $97,969 July 2013 Almost $90,000 raised for single mother who lost 3 limbs in a dog bite accident[31][32]
9 $93,402 April 2012 Over $90,000 raised for Tiger Woods' foundation to send 10 deserving students to college[33]
9 $30,544 October 2013 Over $30,000 raised for "good hearted boy",who used the money to pay off overdue lunch accounts in local elementary schools.[34]
10 $28,718 October 2013 Over $27,000 raised for internet viral, craiglist pitbull.[35]
11 $25,000 December 2015 Cancer patient Brice Royer surprises homeless woman with crowdfunding campaign for a home for Christmas, sparking international paying it forward movement.[36]

References

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External links