crowdfunding sites in india

Crowd-funding is the pooling of resources by a group of people for a common goal. Crowd-funding is not new to India. There are many instances of organisations reaching out to common people for funding. However, the emergence of platforms that promote crowd-funding is fairly recent to India. These platforms help start-ups or small businesses meet their funding requirements.

Crowd-funding has been in India for quiet a few years now however still the quantum of funds collected is very much low as compared to the crowd-funding platforms in USA and Europe. From that perspective, it may not be wrong to say that the Indian crowd-funding space itself is in nascent stage. If you consider the aggregated volume of projects or the quantum of funds generated in India so far, we are absolute baby compared to what some of the bigger names in this space have been able to achieve.

The entrepreneur community in India needs a successful and widely accepted Indian version of crowdfunding platforms like Kickstarter, Indiegogo which not only helps Startups/individuals to launch a product but to also test the acceptance of the product in the market.

Currently, no crowd-funding regulation exists in India, but the Securities and Exchange Board of India (SEBI) released a consultation paper last year where it spoke about need for regulation. We expect the regulations to be bought in and the acceptance of crowd-funding among the Indian backers at a lower speed though.

Within India, if one looks a little closely, the crowd-funding platforms themselves fall into three broad categories namely Social causes, Business/Startups and Arts & Culture.

1. BITGIVING 

BitGiving is a Social Crowdfunding platform, which focuses on fund-raising for causes online. With an immense focus on Social Media integration and inherent virality, BitGiving envisions bringing together projects and social campaigns and helping individuals, organisations and NGOs raise funds for their projects. It’s open to both open to both individuals and organisations.

Category : Only for Social Causes

Funds raised so far : Approx. 35 Lacs INR (Amount arrived after summing up all the campaigns that we could see on their home page as on 12-05-2015)

Upfront Listing Fee : Free

Bitgiving Fees : ???

Payment Processing fees : ???

2. MILAAP

Milaap disburses loan of which 100% goes to the borrowers. Milaap is not a charity where you donate money, but actually loan them to people who need it. The idea of not making people dependent, but making them independent, making them productive is fantastic.

Category : Only for Social Causes

Disbursed loans so far – $4.18 Million 

Upfront Listing Fee : Free

Milaap Fees : Their website says that 100% amount is disbursed to borrowers

Payment Processing fees : ???

3. KETTO

Starting a campaign on Ketto is FREE. There is no penalty if you don’t raise the total amount. Whatever funds your raise will still get disbursed. The campaign raiser can offer rewards to the backers.

Category : Applicable for various categories but a quick glance at their campaigns reveals that majority of the campaigns are for social and individual causes.

Funds raised so far: 4 Crores INR

Upfront Listing Fee : Free

Ketto Fees : 5%

Payment Processing fees : 5%

4. START51

People from different domains like film making, music, designing and many other can register and raise funds. We could not see many projects running at the time of writing this article(12 may 2015). so, far only 7 projects have been successfully funded.(as per the stats on their site on 12 may 2015)

Category : Applicable for various categories like Arts, Comics, Adventure, Music, Films,etc

Funds raised so far: INR 16,95,062

Upfront Listing Fee : Free

START51 Fees : 5%

Payment Processing fees : ???

5. FUNDDREAMSINDIA

Most of the campaigns pertain to social cause.

Category : Several but most of the campaigns pertain to social and individual causes.

Funds raised so far: ???

Upfront Listing Fee : Free

Funddreamssindia Fees : 5%

Payment Processing fees : 3.95%

6. WISHBERRY.IN

This is the only site we found that has substantial successful projects from different sectors.

Category : Several

Funds raised so far: INR 4.5 Crores

Upfront Listing Fee : Rs. 2500 plus taxes non refundable

Wishberry + Payment Processing  Fees : 10%

7. CATAPOOOLT

In BETA version now.

Category : Several

Funds raised so far: INR 75 lacs+

Upfront Listing Fee : INR 1499 non refundable

CATAPOOOLT Fees : They have 3 plans Standard charges 10% fee, premium charges 15% and Advanced plan offers 15% plus based on the services offered.

Payment Processing  Fees : ???

Note: All figures are as on 12-05-2015