Crowdfunding platforms are helping Indians get finance. These websites make it easier for people to generate funding by reaching a large number of people and collecting small sums. Crowdfunding has redefined India’s funding, from social causes to start-ups ecosystem. This article will discuss popular Indian crowdfunding websites, their success stories, and how they help people realize their ideas. In this post, We’ll talk about the 11 Best Crowdfunding sites in India in 2024.
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What is crowdfunding?
Crowdfunding is an innovative method to raise money for a new business venture from the general public. Instead of looking for money through more conventional channels like bond issuance or bank loans. In crowdfunding Contributions can range from small amounts, depending on the individual’s ability and willingness to give. Additionally, crowdfunding is sometimes utilized to fund medical treatments, in which case the contributions are more of a donation rather than an investment.
Crowdfunding platforms allow fundraisers and the public to interact with one another. The crowdfunding platform makes it possible to collect financial pledges. Individuals seeking funding create their request on a crowdfunding platform and then promote it using social media. There are limitations on who can contribute and the amount they can invest. Fundraising platforms serve as intermediaries between those seeking funding and those willing to invest. The platforms earn revenue by taking a percentage of the funds raised.
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Best Crowdfunding Platforms in India 2024
Here are the Top 11 Crowdfunding Online Platforms in India in 2024.
1. Ketto
Ketto, co-founded by Varun Sheth, Zaheer Adenwala, and Bollywood actor Kunal Kapoor, stands out as Asia’s leading and most trusted crowdfunding platform in india. With a focus on leveraging technology for social impact, Ketto collaborates with grassroots non-profit organizations, enhancing efficiency and extending support to diverse social causes.
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As a Made in India platform, Ketto offers a wide range of campaigns covering areas such as healthcare, education, sports, animal welfare, and personal care, among others. The Mumbai-based platform also features an “Urgently Fund Required” section, which offers tax benefits to backers. Since its inception in 2012, NGOs have utilized Ketto for their fundraising efforts. Additionally, the platform does not require the project to be fully funded for the creator to receive the amount already raised.
Ketto, it is a best crowdfunding sites for medical, also strives to raise awareness and support various projects by extending a helping hand to campaigners. Many prominent figures, from Bollywood actor Amitabh Bachchan to Nobel Peace Prize winner Kailash Satyarthi, have utilized Ketto to raise funds for various causes. In addition, companies such as Viacom 18, IPL team Pune Super Giants, Radio City 91.9, and Yes Bank have partnered with Ketto for their corporate social responsibility initiatives.
2. Fueladream
Fueladream was established in April 2016 and is headquartered in Bengaluru. It serves as a popular crowdfunding platform in india for crowdfunding and a marketplace for individuals and fundraising for charities and all organizations those looking to raise funds for their creative ideas, causes, charities, events, and community-led initiatives, with an initial emphasis on India.
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Fueladream aims to connect campaign creators and funders productively and interactively. The company’s objective is to drive innovation and simplify access to funding through crowdfunding in India while promoting transparency and accountability. To transform the traditional methods of funding ideas, ventures, activities, and organizations, Fueladream intends to make crowdfunding the preferred method of raising funds in India.
Fueladream has successfully managed over 250 campaigns in the past two years of its operations in India and has helped raise over INR 15 crores.
3.Impact Guru
Impact Guru was founded by Piyush Jain and Khushboo Jain in Mumbai and is India’s premier healthcare financing platform for patients. The company enables individuals to raise funds for medical expenses, such as cancer treatment, transplants, accidents, or other emergencies, through crowdfunding. Impact Guru aggregates a large number of online payments to make it easier for individuals to get the financial assistance they need. So far, the company has helped mobilize approximately INR 150 crores (or US$20 million) through crowdfunding efforts, in partnership with various organizations.
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In addition to its successful fundraising efforts, ImpactGuru has received recognition and awards for its innovative platform. The company was selected among the top 5 early-stage startups in India by TiE, featured on CNBC Young Turks, and won the Best Social Impact Startup Award by News Corp. (Tech Circle). Furthermore, ImpactGuru was ranked among the top 21 startups globally to watch in its field, showcasing its impact and potential for future growth.
4. Crowdera
Crowdera is a technology company that provides artificial intelligence-powered SaaS and PaaS solutions to enterprise-level organizations and charities. The platform enables the launch and management of fundraising campaigns, including multi-level peer-to-peer fundraising, donor collaboration, and corporate giving, all in a unified system.
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The company specializes in creating scalable technology for charitable organizations and corporations to launch their fundraising and giving platforms. The goal is to provide these organizations with an efficient way to automate and increase their fundraising efforts. With its affordable cost, Crowdera is empowering small and medium-sized charities to compete with larger organizations and reach a wider pool of relevant donors, regardless of location.
Crowdera enhances the fundraising and volunteer efforts of organizations by providing a user-friendly platform for creating impactful and viral fundraising campaigns. The platform allows organizations to create visually appealing campaigns that raise awareness and funds for their specific needs and aspirations. By offering this complementary solution, Crowdera helps organizations effectively reach and engage their target audience.
5. Milaap
Milaap is India’s largest free crowdfunding platform, dedicated to personal and social causes. It was founded in 2010 by Mayukh Choudhury, Anoj Viswanathan, and Sourabh Sharma.
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The company has helped Indians raise over Rs.1,000 Cr for 2.5 lakh causes to date. With Milaap, anyone in India can easily raise funds for a wide range of causes, including healthcare, education, sports, disaster relief, and others. The platform was founded in 2010 by a group of young and passionate entrepreneurs and has since played a key role in promoting person-to-person giving in India. With a community of over 30 lakh donors from 130 countries, Milaap has established itself as a leader in the industry, known for its trust, support, and innovative approach to fundraising.
6. Catapooolt
Since its inception in 2013, Catapooolt has successfully funding more than 40 projects, amounting to a remarkable total of $150,000. This accomplishment is owed to the unwavering support from a dedicated community of over 2,000 backers who believe in the power of crowdfunding to drive innovation and positive change.
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Catapooolt facilitates genuine connections between project initiators and supporters, enabling innovators and entrepreneurs to realise their dreams. The company rewards its backers with access to 300,000 retail outlets and provides them with the opportunity to join hands with other investors. The company was founded by Satish Kataria.
7. SeedInvest
SeedInvest is an online equity crowdfunding platform in india, that links startups with investors. It was founded in 2012 and launched in 2013. SeedInvest has concentrated on enhancing the platform’s liquidity by attracting high-net-worth individuals, family offices, and venture capital firms. The company thoroughly reviews and approves deals before granting access to the JOBS Act exemption that permits General Solicitation.
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In 2014, SeedInvest established a partnership with the Angel Investing website Gust. In October 2018, SeedInvest was acquired by Circle Internet Financial Ltd, a peer-to-peer payment company.
SeedInvest raised a substantial part of its $4.15 million Series A funding in April 2014 through an online funding campaign. The funding was received from Scout Ventures and a combination of venture capital firms and angel investors. SeedInvest had previously raised seed capital in 2013. By 2020, the company had raised a total of $5.1 million.
8. Wishberry
Wishberry was established by Priyanka Agarwal and Anshulika Dubey in 2012, which is an online crowdfunding platforms that operates on a rewards-based system. On the platform, individuals present their imaginative projects and solicit funds from their social networks.
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Rather than receiving financial compensation, supporters receive unique rewards, such as early access to the project or exclusive merchandise. In addition to fostering creativity, Wishberry also provides services like marketing strategy, campaign consultation, social media management, and public relations.
9. DONATEKART
Donatekart is a best crowdfunding platform in india to donate to charities online. Founded by NIT Alumni, Donatekart is the the most reputable and open crowdfunding site in India, and their mission is to have a positive social effect. It has won many awards like 40 Under 40, Nasscom Social Innovation Award etc and is incubated in T Hub, Hyderabad & Zone Startups, Bombay Stock Exchange, Mumbai.
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They are first of a kind platform that enables donors to directly donate products to NGOs/Charities online instead of money.
10. GoFundMe
GoFundMe, is an online crowdfunding platforms which is operated by the company GoFundMe Inc. for profit, to raise money for a wide variety of occasions, including life events such as celebrations and graduations, as well as hard circumstances such as accidents and diseases.
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11. FundingX:
FundingX was established in 2020, and it is based in Delhi. It’s an exclusive crowdfunding website in India. It is intended to support inventors and entrepreneurs in their efforts to raise capital for potentially game-changing inventions. It is a fundraising platform in India, started by two engineers who are now innovators and wish to support other aspiring CEOs and entrepreneurs.
FundingX supports early-stage businesses where finance, innovation, and technology can create long-term value and stimulate the economy. Strategic partnerships and startup fundraising are their main areas of interest.
Crowdfunding has revolutionised fundraising for Indian startups and individuals. It has opened up cash and resources to numerous groups. Crowdfunding has given fresh life to unique and inventive ideas and highlighted various social issues. Indian crowdfunding sites have democratized financing and given budding entrepreneurs and social activists new opportunities.
This was our selection of the Top 11 Crowdfunding sites in India in 2024. We hope this is useful to you. The order of this list is random.
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FAQs – Crowdfunding in India
Which are India’s Top 10 Best Crowdfunding Platforms in 2024?
Ketto, Fueladream, Impact Guru, Crowdera, Milaap, Catapooolt, SeedInvest, Wishberry, DONATEKART, & GoFundMe are the Top 10 Best fundraising platforms in India in 2024.
What is crowdfunding in India?
Through the combined effort of many people who individually give a little sum of money, crowdfunding is a technique for obtaining finance.
What are the popular crowdfunding Online platforms in India?
Some of the online crowdfunding platforms in India include Ketto, Milaap, Wishberry, Fueladream, and ImpactGuru.
Are there any legal regulations for crowdfunding in India?
Yes, equity crowdfunding in India is governed by the Securities and Exchange Board of India (SEBI), while debt crowdfunding is governed by the Reserve Bank of India (RBI).
Which is the top crowdfunding platform in India for business?
Fueladream, Crowdera, Catapooolt, are the top crowdfunding platform in india for bussiness.
How does crowdfunding work in India?
Individuals in India can launch campaigns on fundraising platforms to promote their projects. Anyone can then contribute to the campaign, and the money is then gathered and given to the person who started it.
Which is the best crowdfunding sites for Pharma?
Ketto and Impact Guru are the best fundraising sites for pharma in India.
