If you’re looking for a little extra funding to get your startup off the ground, you’re in luck. With the advent of crowdfunding platforms, raising money from a large pool of interested investors is easier than ever. But with so many on the market, which platform is the best fit for you or your business? And how do you find one that will offer you the most benefit?
Here are five of the best crowdfunding platforms for 2023.
1. Patreon: Best for Creatives
Patreon is an excellent option for creatives who are looking for subscription-based funding. It’s best suited for content creators, such as YouTubers, podcasters, and musicians. With Patreon, you can offer your fans exclusive content in exchange for their support.
Here are the three tiers of pricing plans:
- Lite: 5% fee, including hosted creator page and Patreon workshops and communication tools.
- Pro: 8% fee: everything in Lite, plus analytic insights, app integrations, and more.
- Premium: 12% fee: everything in lower tiers, plus merch, team accounts, and a personal partner manager.
With higher pricing than other platforms, Patreon is best for content creators who have already built up a loyal following. In addition, since the money you make from Patreon is recurring, it’s a great way to guarantee a steady income stream. However, if you’re just starting or don’t have a large audience, you might want to consider another platform.
2. Mightycause: Best for Non-profits
Mightycause is ideal for non-profits who need an affordable way to fundraise. With plans starting at just $59 per month, Mightycause is one of the most reasonable options on the market.
As a smaller crowdfunding platform, Mightycause also offers a more personal touch, which can be helpful when you’re trying to build support for your cause. And with a full-service CRM and an embeddable donation form included in the higher-priced $99/month plan, Mightycause has everything you need to run a successful fundraising campaign.
With online fundraising tools that are easy to use and affordable, Mightycause will be the best crowdfunding platform for non-profits in 2023.
3. GoFundMe: Best for Personal Crowdfunding
If you have social media, chances are you’ve been asked to donate to a GoFundMe campaign. As one of the most recognized crowdfunding platforms available to individuals, GoFundMe has a broad reach and is easy to use. Setting up a campaign takes just a few minutes, and you can start collecting donations as soon as your page is live.
Creating a GoFundMe campaign is free, but the platform does take a 2.9% + $0.30 fee from each donation. That’s higher than some other platforms on this list, but the convenience and reach of GoFundMe make it worth the cost for many. Plus, with global support and a versatile platform, you can use a variety of causes.
4. Kickstarter: Best for startups
As one of the most trusted crowdfunding platforms available, Kickstarter has a lot to offer startups. With almost 230,000 projects funded, it has a proven track record of success. In addition, Kickstarter is a great way to build hype and excitement for your product before it launches.
The pricing structure for Kickstarter includes a 5% fee and payment processing fees of 3% + $0.20 per pledge, so it’s important to factor those costs into your campaign.
Overall, Kickstarter is a great crowdfunding platform for startups. It has a trusted reputation, a large community of backers, and a simple fee structure. However, it’s important to note that not all projects are accepted onto Kickstarter, so make sure your project is a good fit before you apply.
5. Indiegogo: Best for Entrepreneurs
Indiegogo is an excellent choice for businesses and entrepreneurs who need extra flexibility. And with global reach, Indiegogo is a good choice for entrepreneurs or companies with an international audience.
Other crowdfunding platforms tend to be geared towards a particular type of project, but Indiegogo welcomes a wide range of projects. Whether you’re crowdfunding a new product, a charity event, or a small business, Indiegogo is a great choice.
Indiegogo has a higher fee structure than some of the other crowdfunding platforms, with a 5% fee for all projects and a 3% + $0.20 processing fee for each donation. However, the platform offers many features and services that can be helpful for businesses, including integration into other platforms and promotional and marketing support. Plus, you will only have to pay their fees once you launch your campaign.
Whether you’re looking for a crowdfunding platform with a wide reach, flexible funding options, or helpful features for businesses, Indiegogo is a great choice.
This one might blow your mind, AND you’ve never heard of it. NFTs have become a bit of a buzzword since the craze of the pandemic. TL;DR they are not a scam, they are risky as an investment, but they do have purchase utility, like a club membership.
In this case, there are actually funding options that do NOT require any investment at all. Lil Nouns is a decentralized platform with a treasury of 642 ETH, aka $773,569 (as of 11.18.22). They do not operate like a business. They operate as an autonomous entity that issues funds out for good ideas to further their messaging. Their messaging is simple… proliferation of their meme. Many people believe that memes are powerful and have branding potential. Lil Nouns is no different.
So, what does this mean for you? Potential earnings, in ETH (which can quickly and easily be transferred into cash in your bank account with 2 steps), for ideas. Those ideas can be writing articles, hosting blogs, donating water to communities worldwide, providing kids with art supplies, and so much more. In fact, all those things have been funded and much more. You can read all about it from their executed proposals. You could listen to it all on the latest Odds and Ends episode with the Lil Nouns resident, Al. He’s essentially the steward of the collective, compensated monthly for his services from the treasury.
This is a quick rundown of something much more complicated. Read more on our What is Lil Nouns blog, and please, please, please ask any questions via our Contact form or say hi to Craig on Twitter.
From getting proposals voted on in smaller rounds (a few hundred bucks) to major proposals for tens of thousands of dollars, anything is possible!
Finding the Right Crowdfunding Platforms for You
If you’re struggling to determine which crowdfunding platform is the best fit for your project, take some time to consider your goals and objectives. Crowdfunding platforms each have their own strengths and weaknesses, so it’s essential to choose the one that’s the best fit for your needs.
You need to consider your audience, your crowdfunding goals, and the fees associated with each platform before you make a decision. For example, if you’re crowdfunding a personal cause, GoFundMe is a great choice. Or, if you’re crowdfunding a startup, Kickstarter may be a better fit.
In addition, take some time to examine the terms and conditions of each crowdfunding platform. Some platforms may have restrictions on the type of projects that can be funded, or they may have rules about how you can use the funds you raise. Therefore, it’s essential to be familiar with each platform’s terms and conditions before you launch your campaign or sign up for their services.
Whether you’re a startup, a small business, or an individual with a cause, crowdfunding can be a great way to raise money. And with so many crowdfunding platforms to choose from, you’re sure to find one that’s the perfect fit for your needs. Just be sure to do your research before you launch your campaign, so you can be sure you’re using the right platform for your project.
And if you need help choosing the right crowdfunding platform for your project, reach out to us! We’re always happy to help.