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FundRazr

{{Short description|Canadian crowdfunding site}}

{{Use dmy dates|date=May 2016}}

{{Infobox website

| name = FundRazr

| logo = FundRazr-logo-2016.png

| screenshot = Fundrazr showcase.png

| collapsible =

| collapsetext =

| background =

| screenshot_size =

| screenshot_alt =

| caption = FundRazr platform 2020

| url = {{URL|fundrazr.com}}

| type = Crowdfunding

| language = English

| launch_date = {{Start date|2009|09|01|df=yes}}

| creators = Daryl Hatton

| current_status = Active

}}

FundRazr is a free crowdfunding and online fundraising platform released in 2009. FundRazr operates internationally in 35+ countries with the largest markets being United States, Canada, United Kingdom and Australia.{{Cite web|title=Countries & Currencies|url=https://fundrazr.com/pages/countries-currencies|access-date=2020-09-12|website=FundRazr|language=en-US}}{{Cite web |date=2021-03-15 |title=Crowd-funding {{!}} Human Rights & Science |url=https://www.humanrightsandscience.se/crowd-funding/ |access-date=2022-03-14 |website=www.humanrightsandscience.se |language=en-GB}} It allows users to run a wide-range of crowdfunding campaigns by creating fundraising pages and sharing it via social media, messaging apps, email and more{{Cite web|title=Functionality description|url=https://fundrazr.com/pages/how-it-works|website=FundRazr}} to raise money for over 100 types of causes such as nonprofit, medical care, education, community help, poverty alleviation, arts, memorials, and animal rescue causes.[https://www.theglobeandmail.com/report-on-business/small-business/starting-out/vancouver-startups-social-platform-takes-crowdfunding-to-next-level/article14721208/ Ivor Tossell, “FundRazr pushes crowdfunding to next level with social platform”], The Globe and Mail, 7 October 2013.{{Cite web|title=Trending fundraisers and crowdfunding campaigns raising money online - FundRazr|url=https://fundrazr.com/|access-date=2020-09-12|website=fundrazr.com|language=en}} FundRazr also works with more than 4000 nonprofits, charities and social enterprises with an advanced fundraising toolset for free.{{Cite web|title=Homepage|url=https://fundrazr.com/|access-date=2020-09-12|website=FundRazr|language=en-US}} The digital fundraising platform provides 8 different campaign types. They include microproject fundraising, peer-to-peer campaigns,{{Cite web |last=Thorpe |first=Devin |title=What Is Crowdfunding? |url=https://www.forbes.com/sites/devinthorpe/2018/06/25/what-is-crowdfunding/ |access-date=2022-03-14 |website=Forbes |language=en}} wishlist campaigns, recurring donations, branded sponsorship campaigns, DIY projects, sweepstake campaigns, and storefront campaigns.{{Cite web |title=Nonprofit-Crowdfunding |url=https://fundrazr.com/pages/nonprofit-crowdfunding |access-date=2022-03-11 |website=FundRazr |language=en-US}}{{Cite web |date=2017-01-04 |title=Crowdfunding Guide - Models, Major Players and Success Stories |url=https://www.chipin.com/crowdfunding-guide-players-success-stories/ |access-date=2022-03-14 |website=ChipIn |language=en-US}}

History

FundRazr was founded in 2008 by Daryl Hatton. The head office is located in Vancouver, British Columbia, Canada. The platform was initially a Facebook app that allowed users to crowdfund money over Facebook.{{cite web | url=https://techvibes.com/2010/08/08/exclusive-interview-vancouvers-fundrazr-raises-the-bar-with-monumental-paypal-and-facebook-collaboration | archive-url=https://web.archive.org/web/20170903075731/https://techvibes.com/2010/08/08/exclusive-interview-vancouvers-fundrazr-raises-the-bar-with-monumental-paypal-and-facebook-collaboration | archive-date=3 September 2017 | title=Exclusive Interview: Vancouver's FundRazr raises the bar with monumental PayPal and Facebook collaboration – Techvibes }} It has since developed into a full online fundraising tool set. 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).{{Cite web|url=http://business.financialpost.com/resp/crowdfunding-for-resps-toronto-company-launches-simple-solution-to-raise-money-for-childs-education?__lsa=7db8-730b,|title=Crowdfunding for RESPs: Toronto company launches 'simple solution' to raise money for child's education | Financial Post}}

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.{{Cite web|url=http://www.techvibes.com/blog/national-philanthropy-day-2015-11-10,|title="FundRazr, Dexterity Ventures to Launch Partnership on National Philanthropy Day" TechVibes. 10 November 2015.}} In 2018, FundRazr was modified into an enterprise crowdfunding platform and launched the Distribution Partnership Program.{{Cite web |title=About |url=https://fundrazr.com/pages/about |access-date=2022-03-11 |website=FundRazr |language=en-US}}

Business model

FundRazr uses the donation/perks crowdfunding model available for organizations, charities and personal causes with two pricing options: free (0% platform fee), standard (5% for advanced functionality) and pro (fee recovery models).{{Cite web|url=https://www.straight.com/life/vancouver-startups-put-new-spin-crowdfunding|title=Stephen Hui, "Vancouver startups put a new spin on crowdfunding", Straight.com, 27 November 2012|access-date=28 August 2017|archivedate=18 October 2014|archiveurl=https://web.archive.org/web/20141018002905/http://www.straight.com/life/vancouver-startups-put-new-spin-crowdfunding|url-status=deviated}} 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.{{Cite web |url=http://www.biv.com/article/20120724/BIV0112/307249939/0/SEARCH/Social-media-harnessed-to-raise-investment-dollars |title=Nelson Bennett, "Social media harnessed to raise investment dollars", Business Vancouver, 24 July 2012 |access-date=24 November 2012 |archive-url=https://web.archive.org/web/20120729060910/http://www.biv.com/article/20120724/BIV0112/307249939/0/SEARCH/Social-media-harnessed-to-raise-investment-dollars |archive-date=29 July 2012 |url-status=dead }}[https://www.forbes.com/sites/katetaylor/2013/08/06/6-top-crowdfunding-websites-which-one-is-right-for-your-project/ Kate Taylor, “6 Top Crowdfunding Websites: Which One Is Right For Your Project?”], Forbes, 6 August 2013. FundRazr is in partnership with PayPal which allow users to deposit and withdraw funding.

The fundraising platform provides two campaign options for users to raise money: Keep It All or All Or Nothing. Keep It All means all of the funds the campaign raised will be deposited into the user's account, giving the person immediate access to the capital. All Or Nothing means if the campaign does not meet the goal by the deadline, no money will be charged to the donors or given to the user. In other words, if the campaign does not raise enough to get the project off the ground, the user has the option to back out.

On 20 August 2013, FundRazr introduced "Crowdfunding as a Service" technology, which allows web publishers and companies to run crowdfunding service on their site.{{Cite web|url=https://brainstation.io/magazine/fundrazr-introduces-crowdfunding-as-a-service|title=FundRazr Introduces Crowdfunding as a Service|date=20 August 2013|website=BrainStation®}} FundRazr subsequently announced its first official PoweredBy partner, HealthLine on 17 December 2013.{{Cite web|url=https://betakit.com/vancouvers-fundrazr-to-help-americans-crowdfund-healthcare-costs/|title=Vancouver's FundRazr to Help Americans Crowdfund Healthcare Costs | BetaKit|date=17 December 2013}}

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.{{Cite web|url=https://brainstation.io/magazine/fundrazr-hits-20-million-in-donations|title=Vancouver's Fundrazr Hits $20 Million in Donations|date=28 February 2013|website=BrainStation®}}{{Cite web|url=https://www.usatoday.com/story/news/nation/2013/01/11/crowdfunding-medical-expenses-fundraising/1786039/|title='Crowdfunding' sites pay medical bills, raise hopes|first=Cheryl Alkon, Special for USA|last=TODAY|website=USA TODAY}}{{cite web | url=http://www.adweek.com/socialtimes/paypal-makes-online-fundraising-a-social-experience-with-fundrazr/21551?red=st | archive-url=https://web.archive.org/web/20160321043241/http://www.adweek.com/socialtimes/paypal-makes-online-fundraising-a-social-experience-with-fundrazr/21551?red=st | archive-date=21 March 2016 | title=PayPal Makes Online Fundraising a Social Experience with FundRazr | date=19 August 2010 }}{{cite web|last1=Hansen|first1=Evan|last2=Tate|first2=Ryan|title=Can Facebook Army Supercharge Nonprofit Fundraising? First Test: Sandy|url=https://www.wired.com/business/2012/11/facebook-to-add-charitable-donations-to-gifts-platform/|publisher=Wired|date=1 November 2012|access-date=13 November 2012}} {{As of|July 2018}}, FundRazr had raised over $116 million from over 140,000 campaigns.{{cite web|title=About|url=https://fundrazr.com/pages/about|website=FundRazr|access-date=10 July 2018}}

In November 2020, FundRazr crossed $200 million total funds raised. As of April 2021, FundRazr officially launched fiscal sponsorship crowdfunding where all fiscally sponsored projects can raise unrestricted funds using the fiscal sponsor's 501c3 number.{{Cite web |title=Fiscal Sponsorship New |url=https://fundrazr.com/pages/fiscal-sponsorship-crowdfunding |access-date=2022-03-11 |website=FundRazr |language=en-US}}

Awards

  • 2013 BCTIA Technology Impact Award – Most Promising Start-up[http://rightstartups.com/fundrazr-crowdfunding-platform-named-most-promising-startup-at-the-technology-impact-awards-898/ Cassandra Leger, "FundRazr Crowdfunding Platform Named Most Promising Startup At The Technology Impact Awards", Right Startups ,10 July 2013] {{webarchive|url=https://web.archive.org/web/20150319062440/http://rightstartups.com/fundrazr-crowdfunding-platform-named-most-promising-startup-at-the-technology-impact-awards-898/ |date=19 March 2015 }}
  • 2013 Vancouver Social Media Award – Best Social Media Campaign (non-profit){{Cite web|url=https://brainstation.io/magazine/the-good-and-the-bad-of-the-2013-vancouver-social-media-awards|title=The Good and the Bad of the 2013 Vancouver Social Media Awards|date=1 April 2013|website=BrainStation®}}

Reception

FundRazr is listed as the best overall alternative to Kickstarter in 2022.{{Cite web |title=The 6 Best Alternatives to Kickstarter in 2022 |url=https://www.investopedia.com/best-alternatives-to-kickstarter-5081260 |access-date=2022-03-11 |website=Investopedia |language=en}} Along with competitors like Indiegogo and GoFundMe, FundRazr is also listed as one of the top major players in the crowdfunding market.{{Cite web |title=Crowdfunding Market Growth (Status and Outlook) 2022-2028 {{!}} Opportunities and Challenges {{!}} Industry Size, Share, Revenue Analysis {{!}} Reports by Absolute Reports |url=https://finance.yahoo.com/news/crowdfunding-market-growth-status-outlook-190200147.html |access-date=2022-03-11 |website=finance.yahoo.com |date=18 January 2022 |language=en-US}}

Notable projects

class="wikitable sortable"
Rankscope="col" width="90" | Total raisedscope="col" width="90" | Project startProject description
align="center" | 1

| align="right" style="padding-right: 8px" | $2,371,889

| style="padding-left: 8px" | August 2016

|The Sacred Stone Legal Defense Fund raised over $2 million in 90 days to fund the legal defense for the #NODAPL protesters of the Dakota Access Oil Pipeline.{{Cite news|url=http://www.harpersbazaar.com/culture/news/a19020/support-standing-rock-dapl-protest/|title=7 Ways to Support Standing Rock's Protest Against the Dakota Access Pipeline|date=2016-11-23|newspaper=Harper's BAZAAR|access-date=2016-12-01}}{{Cite web|url=https://fundrazr.com/sacredstone|title=Sacred Stone Legal Defense Fund|website=FundRazr|access-date=2016-12-01}}

align="center" |2align="right" style="padding-right: 8px" | $1,278,999style="padding-left: 8px" | October 2015Researchers 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.{{Cite web|url=http://ucsdnews.ucsd.edu/feature/american_gut_project_crowdfunds_1_million_to_study_the_human_microbiome,|title="American Gut Project Crowdfunds $1 Million to Study the Human Microbiome", UC San Diego News Center, 29 October 2015.}}
align="center" |3align="right" style="padding-right: 8px" | $1,007,356style="padding-left: 8px" | March 2012Professional 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.[http://kotaku.com/5896909/gaming-provocateur-aiming-to-raise-1-million-for-humanitarian-aid Kate Cox, “Gaming Provocateur Aiming to Raise $1 Million for Humanitarian Aid”], Kotaku, 27 March 2012
align="center" |4align="right" style="padding-right: 8px" | $414,869style="padding-left: 8px" | July 2011WikiLeaks Staff Legal Defence Team raises £233,650 as of 7 November 2013 for Wikileaks staff costs and Julian Assange's legal defence.[http://www.theatlanticwire.com/global/2011/03/wikileaks-mastercard-visa-paypal/35554/ John Hudson, “Why WikiLeaks Is Raising Money Using MasterCard and PayPal Again”], The Atlantic Wire, 2 March 2011.
align="center" |5align="right" style="padding-right: 8px" | $256,740style="padding-left: 8px" | October 2016Water Protector Legal Collective partnered with the National Lawyers Guild to raise money for the #NoDAPL protests in North Dakota.{{Cite web|url=https://fundrazr.com/RedOwlLegal|title=Water Protector Legal Collective, formerly Red Owl|website=FundRazr|access-date=2016-12-01}}
align="center" |6align="right" style="padding-right: 8px" |$181,346style="padding-left: 8px" |November 2016Over $181,000 raised in a peer-to-peer campaign by Aprons for Gloves Boxing Association to support Vancouver's Downtown East Side.
align="center" |7align="right" style="padding-right: 8px" | $110,536style="padding-left: 8px" | November 2015Over $110,000 raised for Peterborough Mosque that was attacked and burnt.[https://www.theglobeandmail.com/news/national/after-mosque-fire-in-peterborough-ont-community-rallies-torebuild/article27272714/, “Faith manages: Peterborough rebuilds as mosque fire deemed a hate crime”], The Globe and Mail, 17 November 2015.
align="center" |8align="right" style="padding-right: 8px" | $107,742style="padding-left: 8px" | November 2013Over $100,000 raised for an Australian king hit victim.[http://www.bendigoadvertiser.com.au/story/2005074/ongoing-battle-for-king-hit-victim-matt-scarff/ Emma-Jayne Schenk, “Ongoing battle for king hit victim Matt Scarff”], Bendigo Advertiser, 4 January 2014.
align="center" |9align="right" style="padding-right: 8px" | $103,034style="padding-left: 8px" | December 2013Over $100,000 raised for father with incurable brain cancer[http://www.brisbanetimes.com.au/queensland/homecoming-for-rome-torti-20140103-309w3.html/ Amy Remeikis, “Homecoming for Rome Torti”], Brisbane Times, 3 January 2014.
align="center" |10align="right" style="padding-right: 8px" | $103,014style="padding-left: 8px" | August 2013WikiLeaks Staff Legal Defence Team raises $63,969 as of 7 November 2013 for Edward Snowden's legal defence{{Cite web|url=https://www.theverge.com/2013/10/28/5039196/wikileaks-launches-site-for-edward-snowdens-legal-defense-free-snowden,|title="WikiLeaks launches site for Edward Snowden's legal defense" Adrianne Jeffries, The Verge, 28 October 2013.}}
align="center" |11align="right" style="padding-right: 8px" | $97,969style="padding-left: 8px" | July 2013Almost $90,000 raised for single mother who lost 3 limbs in a dog bite accident[http://www.cbc.ca/news/canada/ottawa/ottawa-mother-loses-3-limbs-after-dog-bite-infection-1.1362502, “Ottawa mother loses 3 limbs after dog bite infection” CBC News, CBC News, 21 July 2013.]{{cite web | url=https://webcache.googleusercontent.com/search?q=cache:https://nationalpost.com/news/canada/christine-caron-lost-three-limbs-to-rare-dog-bite-infection | archive-url=https://web.archive.org/web/20240216202544/https://webcache.googleusercontent.com/search?q=cache:https://nationalpost.com/news/canada/christine-caron-lost-three-limbs-to-rare-dog-bite-infection | archive-date=2024-02-16 | title=How an Ottawa mother lost three limbs to rare dog bite infection, but not her spirit | National Post }}
align="center" |12align="right" style="padding-right: 8px" | $93,402style="padding-left: 8px" | April 2012Over $90,000 raised for Tiger Woods' foundation to send 10 deserving students to college{{Cite web |url=http://www.tigerwoodsfoundation.org/news/article/2012041828986714/scholarships/ |title=Tiger Woods Foundation, "Help send 10 deserving students to college", Tiger Woods Foundation, 19 April 2012. |access-date=7 November 2013 |archive-url=https://web.archive.org/web/20140203210841/http://www.tigerwoodsfoundation.org/news/article/2012041828986714/scholarships/ |archive-date=3 February 2014 |url-status=dead }}
align="center" |13align="right" style="padding-right: 8px" |$59,778style="padding-left: 8px" |October 2016The Heiltsuk First Nation of Bella Bella raised nearly $60,000{{Cite web|url=https://fundrazr.com/b1B0J3|title=Support Heiltsuk Efforts in Diesel Spill|website=FundRazr|access-date=2016-12-01}} to cover the costs of a diesel spill in their waters.{{Cite web|url=https://www.nationalobserver.com/2016/10/18/news/first-nation-considering-lawsuit-after-diesel-spill-destroys-clam-beds|title=First Nation considering lawsuit after diesel spill destroys clam beds|first=Elizabeth|last=McSheffrey|date=2016-10-18|website=National Observer|access-date=2016-12-01}}
align="center" |14align="right" style="padding-right: 8px" |$30,544style="padding-left: 8px" |October 2013Over $30,000 raised for "good hearted boy", who used the money to pay off overdue lunch accounts in local elementary schools.[http://www.today.com/news/good-hearted-boy-8-year-old-pays-overdue-lunch-accounts-2D79314690, “'Good-hearted boy': 8-year-old pays off overdue lunch accounts”], Today, 4 March 2014.

References

{{Reflist|3}}

External links

  • {{Official website|https://fundrazr.com}}

{{Crowdfunding platforms}}

Category:Crowdfunding platforms of Canada

Category:Companies based in Vancouver