Raise5 – New Crowdfunding Platform for Charitable Causes
Raise5Â is the latest entry into the crowdfunding industry, but its already looking like a strong competitor for some already established crowdfunding platforms. Raise5 is an ideal solution for those who feel they want to give back, but may not have the cash to do so. It allows users to raise charitable donations for causes they feel is worthy, and ultimately allows them to engage in charitable fundraising on a worldwide scale rather than a local scale.
The service works in a similar way to many crowdfunding websites, with the fundraiser offering a service in exchange for charitable donations. For example, Kickstarter allows fundraisers to offer a unique service per donation of x amount. The difference with Raise5 is that you must select a charity or non-profit that is on their list, meaning users can’t raise for their own causes. This business model is restrictive, but they are really hammering themselves into the niche crowdfunding market. It would come as no surprise if Raise5 became a strong leader in charitable funding and developed a diverse non-profit list suitable for donators worldwide.
Raise5 was founded by two University of Toronto grads, Mike Tang and Nelson Wu, a computer engineer and an electrical and computer engineer respectfully, who have both visibly worked extremely hard at getting the platform up and running. Currently users can choose from 9 charities:
- Red Cross
- United Way
- WSPA
- Charity: Water
- Doctors Without Borders
- Wikimedia Foundation
- World Food Programme
- Zimele
- Girl Guides of Canada
Wu spoke to NewStartups.com about Raise5. Here’s what he had to say:
We wanted to create a movement that made giving back a part of everyone’s daily or weekly routine. During brainstorm sessions we agreed that there had to be a more convenient option to giving back that didn’t involve pulling out credit cards or travelling to complete traditional volunteering sessions. Raise5 was that solution, a platform that enables anyone to volunteer on their schedule using their own skills & talents while at the same time supporting and creating awareness for their favorite cause.
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