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FundRazr

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FundRazr
Type of site
Crowdfunding
Available inEnglish
URLfundrazr.com
Launched1 September 2009 (2009-09-01)

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, British Columbia, Canada. The platform was initially a Facebook app that allowed users to crowdfund money over Facebook.[2] 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).[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 $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.[24][25]
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.[26]
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.[27]
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.[28]
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.[29]
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.[30]
8 $107,742 November 2013 Over $100,000 raised for Australian King Hit victim.[31]
9 $103,034 December 2013 Over $100,000 raised for father with incurable brain cancer[32]
10 $103,014 August 2013 Wikileaks Staff Legal Defence Team raises $63,969 as of 7 November 2013 for Edward Snowden's legal defence[33]
11 $97,969 July 2013 Almost $90,000 raised for single mother who lost 3 limbs in a dog bite accident[34][35]
12 $93,402 April 2012 Over $90,000 raised for Tiger Woods' foundation to send 10 deserving students to college[36]
13 $59,778 October 2016 The Heiltsuk First Nation of Bella Bella raised nearly $60,000[37] to cover the costs of a diesel spill in their waters.[38]
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.[39]

References

  1. ^ Ivor Tossell, “FundRazr pushes crowdfunding to next level with social platform”, The Globe and Mail, 7 October 2013.
  2. ^ Knowlton Thomas, “Exclusive Interview: Vancouver's FundRazr raises the bar with monumental PayPal and Facebook collaboration” Techvibes, 8 August 2010.
  3. ^ "Crowdfunding for RESPs: Toronto company launches ‘simple solution’ to raise money for child’s education" Financial Post, 2 December 2015.
  4. ^ "FundRazr, Dexterity Ventures to Launch Partnership on National Philanthropy Day" TechVibes. 10 November 2015.
  5. ^ Stephen Hui, “Vancouver startups put a new spin on crowdfunding”, Straight.com, 27 November 2012
  6. ^ Nelson Bennett, “Social media harnessed to raise investment dollars”, Business Vancouver, 24 July 2012
  7. ^ Kate Taylor, “6 Top Crowdfunding Websites: Which One Is Right For Your Project?”, Forbes, 6 August 2013.
  8. ^ “Exclusive Interview: Vancouver's FundRazr raises the bar with monumental PayPal and Facebook collaboration” Knowlton Thomas, Techvibes, 8 August 2010.
  9. ^ Rob Lewis, “FundRazr Introduces Crowdfunding as a Service” Rob Lewis, Techvibes, 20 August 2013.
  10. ^ Joseph Czikk , “VANCOUVER’S FUNDRAZR TO HELP AMERICANS CROWDFUND HEALTHCARE COSTS” Joseph Czikk, Betakit, 17 December 2013.
  11. ^ Sumari MacLeod, "Vancouver's Fundrazr Hits $20 Million in Donations", Techvibes,28 February 2013
  12. ^ Cheryl Alkon, "'Crowdfunding' sites pay medical bills, raise hopes", USA Today, 18 January 2013
  13. ^ Lauren Dugan, “PayPal Makes Online Fundraising a Social Experience with FundRazr”, SocialTimes, 19 August 2010
  14. ^ Hansen, Evan; Tate, Ryan (1 November 2012). "Can Facebook Army Supercharge Nonprofit Fundraising? First Test: Sandy". Wired (magazine). Retrieved 13 November 2012.
  15. ^ Dianne Buckner, "Crowdfunding websites trying to cash in on crowded field", CBC,18 June 2013
  16. ^ Charles Luzar, "FundRazr: $25 Million Raised For 37,000 Crowdfunding Campaigns Since 2010", Crowdfund Insider,21 May 2013
  17. ^ Bret Conkin, "The Funding Continuum Enters Stage Left", Crowdfund Insider,27 March 2014
  18. ^ "UX for Good", Vancouver UX Awards ,1 December 2015
  19. ^ "Canadian innovation heads to the UK", GOV.UK,12 July 2013
  20. ^ Cassandra Leger, "FundRazr Crowdfunding Platform Named Most Promising Startup At The Technology Impact Awards", Right Startups ,10 July 2013
  21. ^ 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
  22. ^ "FundRazr (ConnectionPoint Systems Inc.)", ProfitGuide ,2013
  23. ^ "Four Stars and Top International Honors", Crowdfunding Website Reviews Dec 2014
  24. ^ "7 Ways to Support Standing Rock's Protest Against the Dakota Access Pipeline". Harper's BAZAAR. 23 November 2016. Retrieved 1 December 2016.
  25. ^ "Sacred Stone Legal Defense Fund". FundRazr. Retrieved 1 December 2016.
  26. ^ “American Gut Project Crowdfunds $1 Million to Study the Human Microbiome”, UC San Diego News Center, 29 October 2015.
  27. ^ Kate Cox, “Gaming Provocateur Aiming to Raise $1 Million for Humanitarian Aid”, Kotaku, 27 March 2012
  28. ^ John Hudson, “Why WikiLeaks Is Raising Money Using MasterCard and PayPal Again”, The Atlantic Wire, 2 March 2011.
  29. ^ "Water Protector Legal Collective, formerly Red Owl". FundRazr. Retrieved 1 December 2016.
  30. ^ “Faith manages: Peterborough rebuilds as mosque fire deemed a hate crime”, Globe and Mail, 17 November 2015.
  31. ^ Emma-Jayne Schenk, “Ongoing battle for king hit victim Matt Scarff”, Bendigo Advertiser , 4 January 2014.
  32. ^ Amy Remeikis, “Homecoming for Rome Torti”, Brisbane Times , 3 January 2014.
  33. ^ “WikiLeaks launches site for Edward Snowden's legal defense” Adrianne Jeffries, The Verge, 28 October 2013.
  34. ^ “Ottawa mother loses 3 limbs after dog bite infection” CBC News, CBC News, 21 July 2013.
  35. ^ “How an Ottawa mother lost three limbs to rare dog bite infection, but not her spirit” Sarah Boesveld, National Post, 22 July 2013.
  36. ^ Tiger Woods Foundation, “Help send 10 deserving students to college”, Tiger Woods Foundation, 19 April 2012.
  37. ^ "Support Heiltsuk Efforts in Diesel Spill". FundRazr. Retrieved 1 December 2016.
  38. ^ 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)
  39. ^ “'Good-hearted boy': 8-year-old pays off overdue lunch accounts”, Today (U.S. TV program), 4 March 2014.
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