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. 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 to raise money for 100+ types of causes such as nonprofit, medical care, education, community help, poverty alleviation, arts, memorials, and animal rescue causes. FundRazr also powers more than 4000 nonprofits, charities and social enterprises with an advanced fundraising toolset for free.
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.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.
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). 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. FundRazr is in partnership with PayPal which allow users to deposit and withdraw funding. On 20 August 2013, FundRazr introduced “Crowdfunding as a Service” technology, which allows web publishers and companies to run crowdfunding service on their site. FundRazr subsequently announced its first official PoweredBy partner, HealthLine in 2013. As of 2013, illness, medical and health-related causes represent 58% of money raised. Memorials/tributes represents another 12%. As of July 2018, FundRazr had raised over $116 million from over 140,000 campaigns.