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FundRazr

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FundRazr
FundRazr platform 2020
Type of site
Crowdfunding
Available inEnglish
Created byDaryl Hatton
URLfundrazr.com
Launched1 September 2009 (2009-09-01)
Current statusActive

FundRazr is a free crowdfunding and online fundraising platform first released in 2009. FundRazr operates internationally in 35+ counties with the largest markets being United States, Canada, United Kingdom and Australia.[1] 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[2] to raise money for 100+ types of causes such as nonprofit, medical care, education, community help, poverty alleviation, arts, memorials, and animal rescue causes.[3][4] FundRazr also powers more than 4000 nonprofits, charities and social enterprises with an advanced fundraising toolset for free.[5]

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.[6] 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).[7]

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.[8]

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).[9] 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.[10][11] FundRazr is in partnership with PayPal which allow users to deposit and withdraw funding.[12]

On 20 August 2013, FundRazr introduced "Crowdfunding as a Service" technology, which allows web publishers and companies to run crowdfunding service on their site.[13] FundRazr subsequently announced its first official PoweredBy partner, HealthLine on 17 December 2013.[14]

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.[15][16][17][18] As of July 2018, FundRazr had raised over $116 million from over 140,000 campaigns.[19]

Awards

  • 2015 Vancouver UX Awards Nominee – UX for Good [20]
  • 2013 UK Trade and Investment Global Competition Winner[21]
  • 2013 BCTIA Technology Impact Award – Most Promising Start-up[22]
  • 2013 Vancouver Social Media Award – Best Social Media Campaign (non-profit)[23]
  • 2013 #30 on Profit's Hot 50 Rankings[24]
  • 2014 CFWR Top UK Donation and Reward Crowdfunding Site[25]

Notable projects

Rank Total raised Project start Project description
1 $166,893 April 2020 Detroit Free Press raised $166,000 to Rescue Detroit Restaurants + Feed Healthcare Heroes during COVID-19 crisis [1]
1 $2,371,889 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.[26][27]
2 $1,278,999 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.[28]
3 $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.[29]
4 $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.[30]
5 $256,740 October 2016 Water Protector Legal Collective partnered with the National Lawyers Guild to raise money for the #NoDAPL protests in North Dakota.[31]
6 $181,346 November 2016 Over $181,000 raised in a peer-to-peer campaign by Aprons for Gloves Boxing Association to support Vancouver's Downtown East Side.
7 $110,536 November 2015 Over $110,000 raised for Peterborough Mosque that was attacked and burnt.[32]
8 $107,742 November 2013 Over $100,000 raised for an Australian king hit victim.[33]
9 $103,034 December 2013 Over $100,000 raised for father with incurable brain cancer[34]
10 $103,014 August 2013 WikiLeaks Staff Legal Defence Team raises $63,969 as of 7 November 2013 for Edward Snowden's legal defence[35]
11 $97,969 July 2013 Almost $90,000 raised for single mother who lost 3 limbs in a dog bite accident[36][37]
12 $93,402 April 2012 Over $90,000 raised for Tiger Woods' foundation to send 10 deserving students to college[38]
13 $59,778 October 2016 The Heiltsuk First Nation of Bella Bella raised nearly $60,000[39] to cover the costs of a diesel spill in their waters.[40]
14 $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.[41]

References

  1. ^ "Countries & Currencies". FundRazr. Retrieved 12 September 2020.
  2. ^ "Functionality description". FundRazr.
  3. ^ Ivor Tossell, “FundRazr pushes crowdfunding to next level with social platform”, The Globe and Mail, 7 October 2013.
  4. ^ "Trending fundraisers and crowdfunding campaigns raising money online - FundRazr". fundrazr.com. Retrieved 12 September 2020.
  5. ^ "Homepage". FundRazr. Retrieved 12 September 2020.
  6. ^ Knowlton Thomas, “Exclusive Interview: Vancouver's FundRazr raises the bar with monumental PayPal and Facebook collaboration” Techvibes, 8 August 2010.
  7. ^ "Crowdfunding for RESPs: Toronto company launches ‘simple solution’ to raise money for child’s education" Financial Post, 2 December 2015.
  8. ^ "FundRazr, Dexterity Ventures to Launch Partnership on National Philanthropy Day" TechVibes. 10 November 2015.
  9. ^ Stephen Hui, “Vancouver startups put a new spin on crowdfunding”, Straight.com, 27 November 2012
  10. ^ "Nelson Bennett, "Social media harnessed to raise investment dollars", Business Vancouver, 24 July 2012". Archived from the original on 29 July 2012. Retrieved 24 November 2012.
  11. ^ Kate Taylor, “6 Top Crowdfunding Websites: Which One Is Right For Your Project?”, Forbes, 6 August 2013.
  12. ^ “Exclusive Interview: Vancouver's FundRazr raises the bar with monumental PayPal and Facebook collaboration” Knowlton Thomas, Techvibes, 8 August 2010.
  13. ^ Rob Lewis, “FundRazr Introduces Crowdfunding as a Service” Rob Lewis, Techvibes, 20 August 2013.
  14. ^ Joseph Czikk , “VANCOUVER’S FUNDRAZR TO HELP AMERICANS CROWDFUND HEALTHCARE COSTS” Joseph Czikk, Betakit, 17 December 2013.
  15. ^ Sumari MacLeod, "Vancouver's Fundrazr Hits $20 Million in Donations", Techvibes,28 February 2013
  16. ^ Cheryl Alkon, "'Crowdfunding' sites pay medical bills, raise hopes", USA Today, 18 January 2013
  17. ^ Lauren Dugan, “PayPal Makes Online Fundraising a Social Experience with FundRazr”, SocialTimes, 19 August 2010
  18. ^ Hansen, Evan; Tate, Ryan (1 November 2012). "Can Facebook Army Supercharge Nonprofit Fundraising? First Test: Sandy". Wired. Retrieved 13 November 2012.
  19. ^ "About". FundRazr. Retrieved 10 July 2018.
  20. ^ "UX for Good", Vancouver UX Awards ,1 December 2015
  21. ^ "Canadian innovation heads to the UK", GOV.UK,12 July 2013
  22. ^ Cassandra Leger, "FundRazr Crowdfunding Platform Named Most Promising Startup At The Technology Impact Awards", Right Startups ,10 July 2013 Archived 19 March 2015 at the Wayback Machine
  23. ^ Sumari MacLeod, "http://www.techvibes.com/blog/the-good-and-the-bad-of-the-2013-vancouver-social-media-awards-2013-04-01", Techvibes ,1 April 2013
  24. ^ "FundRazr (ConnectionPoint Systems Inc.)", ProfitGuide ,2013
  25. ^ "Four Stars and Top International Honors", Crowdfunding Website Reviews Dec 2014
  26. ^ "7 Ways to Support Standing Rock's Protest Against the Dakota Access Pipeline". Harper's BAZAAR. 23 November 2016. Retrieved 1 December 2016.
  27. ^ "Sacred Stone Legal Defense Fund". FundRazr. Retrieved 1 December 2016.
  28. ^ “American Gut Project Crowdfunds $1 Million to Study the Human Microbiome”, UC San Diego News Center, 29 October 2015.
  29. ^ Kate Cox, “Gaming Provocateur Aiming to Raise $1 Million for Humanitarian Aid”, Kotaku, 27 March 2012
  30. ^ John Hudson, “Why WikiLeaks Is Raising Money Using MasterCard and PayPal Again”, The Atlantic Wire, 2 March 2011.
  31. ^ "Water Protector Legal Collective, formerly Red Owl". FundRazr. Retrieved 1 December 2016.
  32. ^ “Faith manages: Peterborough rebuilds as mosque fire deemed a hate crime”, The Globe and Mail, 17 November 2015.
  33. ^ Emma-Jayne Schenk, “Ongoing battle for king hit victim Matt Scarff”, Bendigo Advertiser , 4 January 2014.
  34. ^ Amy Remeikis, “Homecoming for Rome Torti”, Brisbane Times , 3 January 2014.
  35. ^ “WikiLeaks launches site for Edward Snowden's legal defense” Adrianne Jeffries, The Verge, 28 October 2013.
  36. ^ “Ottawa mother loses 3 limbs after dog bite infection” CBC News, CBC News, 21 July 2013.
  37. ^ “How an Ottawa mother lost three limbs to rare dog bite infection, but not her spirit” Sarah Boesveld, National Post, 22 July 2013.
  38. ^ "Tiger Woods Foundation, "Help send 10 deserving students to college", Tiger Woods Foundation, 19 April 2012". Archived from the original on 3 February 2014. Retrieved 7 November 2013.
  39. ^ "Support Heiltsuk Efforts in Diesel Spill". FundRazr. Retrieved 1 December 2016.
  40. ^ News, Elizabeth McSheffrey in; 2016, Energy | October 18th (18 October 2016). "First Nation considering lawsuit after diesel spill destroys clam beds". National Observer. Retrieved 1 December 2016. {{cite web}}: |last2= has numeric name (help); |last= has generic name (help)CS1 maint: numeric names: authors list (link)
  41. ^ “'Good-hearted boy': 8-year-old pays off overdue lunch accounts”, Today, 4 March 2014.
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