The recent field of crowdfunding platforms has witnessed significant growth in Europe. Crowdfunding is used for charities, investments, financing companies, and personal needs. Many people spend their fair share of time using crowdfunding to donate to countless causes for philanthropic activities. With the rough usage of technologies, especially social media, crowdfunding has developed to a new level. However, with several options, there are just a few reliable options for crowdfunding platforms in Europe. That is why knowing which crowdfunding platform suits your needs is essential.
Even after the Covid-19 pandemic, many crowdfunding platforms have remodeled their business models for their users and have seen a substantial crowdfunding market volume in 2020-21. This blog will help you choose the ideal platform among the best crowdfunding sites.
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Table of Contents
What Do Crowdfunding Platforms Do?
Crowdfunding Europe allows people to contribute to a campaign, project, or company. It involves gathering small amounts of money to provide the necessary capital to get the project or company off the ground. Individuals can also contribute to a campaign for their favorite cause.
Fundraising is a more innovative approach to raising funds instead of relying on traditional funding sources, such as bank loans. It allows individuals and organizations to start a new business or fund a charity without going through the laborious process of creating a business plan and conducting market research.
Using the best crowdfunding websites can help users achieve their goals in less time and with the utmost ease. Another thing about reliable crowdfunding platforms in Europe is that you know where your money is going or coming from.
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Which Crowdfunding Site Is The Best?
There are several criteria to consider before starting a fundraiser through a fundraising platform. Number one is the reliability of the crowdfunding platform. The other options to consider are accessibility, user experience, and understanding of the system behind the platforms. Let us now have a look at the most prevalent crowdfunding platforms in Europe.
1. WhyDonate
WhyDonate is a leading crowdfunding platform in Europe and beyond, enabling individuals and organizations to launch impactful fundraising campaigns without platform fees. Primarily, WhyDonate is one of the best fundraising platforms for individuals in Europe. The Netherland-based platform is specifically designed to raise money for any cause. Here, you can donate money or start fundraising for a charity yourself. It also supports private fundraising projects. Among the best crowdfunding websites, this platform is undoubtedly the best one.
WhyDonate is one of the most globally acknowledged user-friendly fundraising platforms out there that offers multiple exciting fundraising features such as a customized fundraising page, quick payouts, multi-language support, multitasking dashboard, sharing offline donations, personalized thank you messages, and much more.
2. JustGiving
Another crowdfunding platform in UK, JustGiving, offers a variety of fundraising categories, allowing support for causes such as direct aid, emergency response, organized charity events, and personal milestones. The platform connects users with over 25,788 charities, organizations, and schools. The platform fosters a culture of giving and participation in charitable activities. The platform also encourages broad outreach through sharing campaigns via email and social media.
3. Goteo
Originating from Spain, Goteo is a civic crowdfunding platform founded in 2011 dedicated to supporting social, cultural, technological, and educational initiatives through collaborative funding. Operating as a non-profit, Goteo offers tax advantages for donors and emphasizes transparency, ethical practices, and community engagement. Its commitment to open-source principles ensures accessibility and fosters a collaborative environment, ultimately aiming to empower citizens and promote societal improvement through ethical crowdfunding practices.
4. Booomerang
Another great option among the top crowdfunding sites is Booomerang. It is the first and largest reward-based crowdfunding platform in Denmark. Entrepreneurs, musicians, groups, and other artists can raise money from new and old networks through financial support. Booomerang is one of the largest crowdfunding platforms in Europe, and it began four years ago.
Establishing an office in Berlin, Germany, by the end of 2014 and expanding quickly, the latest twist that separates Booomerang from other sites is a collaboration with crowdfunding. In Denmark, when legislation is in place to turn Booomerang into a legitimate hybrid crowdfunding site, equity and lending platforms are in the works.
5. Ulule
One of the pioneering crowdfunding platforms in Europe, Ulule France allows creative, innovative, and community-minded projects to test their idea, build a community, and grow it—our goal is to empower creators and entrepreneurs, in general.
How does it work? It’s simple: individuals, associations, and companies create your project, detailing its financial goal, duration, and non-financial rewards offered in exchange for support. If they reach their goal, they receive the funds collected and give their rewards to those who support them. If not, those who are supported receive a refund without any fee. Ulule takes a commission from funds transferred.
6. Loveitaly
Loveitaly operates similarly to other crowdfunding platforms, but its mission is specifically focused on preserving and celebrating Italy’s cultural heritage. The nonprofit has built a supportive network of contributors in both the US and Italy to fund conservation initiatives. Through its programs, Loveitaly collaborates with various Italian ministries, authorities, museums, fine arts institutes, and universities. Membership is available at different tiers, ranging from €25 to €200, depending on the category selected.
7. Betterplace.org
Betterplace, which originated from Germany, is another crowdfunding platform that made the list due to its great features and performance. While crowdfunding in Europe, Betterplace offers companies more reach through marketing campaigns, partner portals or additional donations from our business partners. Donors can also set up permanent contributions. This is why it made it to the best crowdfunding sites list.
8. Give&Fund
Give&Fund, created by Ioannis Chatzibeis in 2013, is a straightforward crowdfunding platform that allows people to raise money for personal projects and support community initiatives. As a leading site in Greece, it offers everyone the chance to launch their own fundraising campaign or donate to important causes. The platform charges a fee of 4.5% plus €0.20, while PayPal takes 3.4% plus €0.30, with additional VAT charges possible.
9. RaiseNow
With a renewed focus on customer-centric development, Switzerland-based platform RaiseNow has established a vision emphasizing innovation and social impact, empowering changemakers to address pressing global challenges. RaiseNow is committed to addressing global injustices and empowering changemakers through technology. With a strong track record, a large product development team, and over 1,000 software integrations, RaiseNow is a trusted partner for organizations looking to futureproof their fundraising efforts and strengthen supporter relationships.
10. Invesdor
Founded in Helsinki, Finland, in 2012, Invesdor is an investment-focused crowdfunding platform that has gradually expanded from Finland to other European countries. It allows users to create tailored presentations to showcase their businesses and attract potential investors while also fostering stronger connections with customers. The fee structure is variable and determined based on individual discussions with financial advisors.
Answering Popular European Crowdfunding FAQs
1. Which Crowdfunding Site Has The Lowest Fees?
Among all the great options above, WhyDonate has the lowest cost of all time regarding crowdfunding in Europe. Crafted with careful strategies, WhyDonate charges only a minimum transaction fee of 1.9% + €0,25 for its fundraisers. At the same time, donors only pay the amount they prefer to donate and nothing more than that.
2. Is Crowdfunding A Good Idea?
Yes. The sole purpose of crowdfunding is to provide people with a platform to ask for funds to fulfill their absolute needs. However, finding a legitimate crowdfunding platform for any fundraising campaign is essential.
3. Which Type Of Crowdfunding Is Most Popular?
There are four primary types of crowdfunding models that are popular globally. These are
- Donation-based crowdfunding
- Reward-based crowdfunding
- Equity crowdfunding
- Loan Crowdfunding
4. How Do I Choose A Crowdfunding Platform In Europe?
Selecting the right crowdfunding platform is crucial for the success of your campaign. Here are some key factors to consider while browsing European crowdfunding platforms:
- Type of Project: Different platforms cater to specific types of projects—some focus on creative endeavors, while others are geared toward charity, equity, or personal fundraising.
- Fee Structure: Review the fees associated with each platform. Some charge a percentage of the funds raised, while others may have fixed fees or additional costs for payment processing.
- Target Audience: Consider where your potential backers are likely to be. Some platforms have a larger presence in specific regions or communities.
- Ease of Use: A user-friendly interface can make a big difference in how smoothly your campaign runs.
- Marketing Tools: Top fundraising sites provide built-in promotional tools, social media integration, and resources to help you effectively reach your audience.
- Success Rate: Research the platform’s track record. Look at previous campaigns to see how many were successful and how much funding they raised.
- Support and Community: Access to customer support and a community of fellow fundraisers can be invaluable. Best crowdfunding platforms always offer resources, FAQs, and responsive support to help you through the fundraising process.