Businesses, artists, and people are now using crowdsourcing to support their initiatives and ideas. Crowdfunding sites are assisting Indians in obtaining financing. These websites make it easy for people to raise funds by reaching a large number of people and collecting small amounts of money. Crowdfunding has transformed India’s financial landscape, from social causes to new ventures. This post will go through some of the most prominent Indian crowdfunding platforms, their success stories, and how they assist people in realising their dreams. We will discuss the Top 7 Best Crowdfunding Sites in India in 2023 in this post.
Crowdfunding is a means of obtaining funds for your business or project by soliciting donations from a large number of people, therefore the name “crowdfunding.” Donations might be little or large, depending on the individual’s capacity and willingness to offer. Nevertheless, crowdsourcing is occasionally used to pay medical treatments, in which case the donations are more of a donation than an investment.
People seeking financing post their funding request on a crowdfunding site and then promote it on social media. There are restrictions on who may contribute and how much money they can invest. Crowdfunding platforms act as go-betweens for people looking for cash and those looking to invest. The platforms make money by taking a cut of the monies raised.
This post will go through some of the most prominent Indian crowdfunding platforms, their success stories, and how they assist people in realising their dreams. We will discuss the Top 7 Best Crowdfunding Sites in India in 2023 in this post.
GoFundMe
Individuals can utilise the crowdfunding website GoFundMe, which is run for profit by the corporation GoFundMe Inc., to collect money for a number of reasons, including life milestones such as weddings and graduations, as well as difficult circumstances such as accidents and diseases.
Crowdfunding has transformed the way Indian entrepreneurs and individuals raise funds. It has made money and resources available to a variety of organisations. Crowdfunding has given new life to unusual and imaginative ideas while also drawing attention to a variety of societal challenges. Crowdfunding portals in India have democratised finance and provided new chances for aspiring businesses and social activists.
DONATEKART
Donatekart is India’s most dependable online charity donation platform. Donatekart, founded by NIT Alumni, has received several honours such as 40 Under 40, Nasscom Social Innovation Award, and is incubated in T Hub, Hyderabad, and Zone Startups, Bombay Stock Exchange, Mumbai.
They are the first platform of its sort, allowing people to directly contribute things to NGOs/Charities online rather than money.
Wishberry
Wishberry, a crowdfunding website with a rewards-based structure, was founded in 2012 by Priyanka Agarwal and Anshulika Dubey. Individuals use the site to exhibit their innovative initiatives and raise cash from their social networks.
Instead of monetary recompense, supporters receive one-of-a-kind perks such as early access to the project or special items. Wishberry, in addition to encouraging creativity, offers services such as marketing strategy, campaign consultancy, social media management, and public relations.
SeedInvest
SeedInvest is a platform for online equity crowdfunding that connects entrepreneurs with investors. It was established in 2012 and debuted in 2013. Its primary objective is to recruit high-net-worth individuals, family offices, and venture capital organisations. It formed a cooperation with the Angel Investing website Gust in 2014. Circle Internet Finance Ltd purchased it in October 2018.
SeedInvest received a significant portion of its $4.15 million Series A capital through an online funding campaign in April 2014. By 2020, the firm had raised $5.1 million in total.
Impact Guru
Impact Guru, India’s best healthcare finance platform for patients, was launched in Mumbai by Piyush Jain and Khushboo Jain. It collects a significant number of online payments to make it easier for people to acquire the financial help they require. Thus far, the firm has assisted in the mobilisation of roughly INR 150 crores (or US$20 million) through crowdfunding activities in collaboration with other organisations. ImpactGuru has gained attention and honours for its unique platform, including being named one of the top five early-stage businesses in India by TiE, being featured on CNBC Young Turks, and winning News Corp’s Best Social Impact Startup Award (Tech Circle). Furthermore, ImpactGuru was named one of the top 21 companies to watch in its sector internationally, demonstrating its influence and potential for future development.
Catapooolt
Catapooolt is a crowdfunding ecosystem that brings together people, resources, and technologies to help make ideas a reality. Personal and corporate initiatives may both gain money and involvement from supporters and investors through the site. Catapooolt has successfully financed over 40 projects totaling $150,000 since its inception in 2013, due to the help of over 2,000 backers.
The startup rewards its backers with access to 300,000 retail stores and the ability to collaborate with other investors. Satish Kataria created the firm.
Milaap
Milaap is India’s largest free crowdfunding website that supports both personal and societal initiatives. MayukhChoudhury, AnojViswanathan, and Sourabh Sharma launched it in 2010.
To date, the company has assisted Indians in raising over Rs.1,000 Cr for 2.5 lakh causes. Anybody in India may easily generate cash for a variety of causes using Milaap, including healthcare, education, sports, disaster relief, and others. The platform was launched in 2010 by a group of young and motivated entrepreneurs, and it has since played an important role in boosting one-on-one philanthropy in India. Milaap has established itself as an industry leader, recognised for its trust, support, and unique approach to fundraising, with a network of over 30 lakh donors from 130 countries.
