Overview Of Crowdfunding Malta

Although there are few platforms for crowdfunding Malta, it is still gaining popularity. It has gained popularity in recent years as a means for entrepreneurs, startups, and social initiatives to access capital without relying solely on traditional funding sources. In 2015, the Companies Act (Investment Services Providers) (Amendment) Act enacted a legal framework for crowdfunding by the Maltese government.

This legislation aimed to regulate crowdfunding platforms and provide investor protection. Several online platforms streamline charities in Malta. These platforms offer a digital space for project creators to showcase their ideas and raise funds from the public. Some notable platforms include WhyDonate, ZAAR, GoGetFunding, Kickstarter, and Indiegogo.

What Are The Top Crowdfunding Platforms For Charities In Malta?

Now that you have a brief overview of Crowdfunding Malta let us look at the best crowdfunding platforms you can use to raise funds for your charities in Malta.

1. WhyDonate

WhyDonate is the largest European crowdfunding platform, and it has aided several Malta-based campaigns as well. It not only has a robust and reliable donor network but also has some excellent built-in features like a comprehensive dashboard, custom branding, and responsive design that caters to all types of devices.

The best part is that you can access all these impressive features without paying extra. With a 0% platform fee, WhyDonate enables small and medium organizations to thrive like large ones. Donors can instantly select any cause they feel connected to and donate the desired amount. With a few simple steps, you can create an attractive fundraising campaign and attract backers worldwide.

Pros:

The donation process is 100% secure and transparent.
Its local focus makes it suitable for those seeking support within the Maltese community.
Ready-to-help customer service makes it easy to solve doubts.
They are dedicated to charitable and social causes, allowing individuals to support meaningful projects.

Cons:

They are only accepting Euro at the moment.

2. Zaar

Zaar is a Malta-based crowdfunding platform that was launched in 2015. It supports several creative projects and allows you to raise funds for your cause, including creative ventures, startups, social initiatives, and many more. They charge 5% + VAT and any fees from their payment partners.

Pros:

A dedicated support team is there to assist all the campaigners.
Allows creators to showcase their projects and gain exposure within the Maltese crowdfunding community.
Caters to rewards as well as donation-based crowdfunding.

Cons:

It is only restricted to the Maltese market.
It has a comparatively lower donor network, making it challenging to meet your financial requirements.
The fees for using the platform may impact the overall funds raised.

3. GoGetFunding

GoGetFunding is one of the most prominent donation-based crowdfunding platforms of all time. Charities in Malta and individuals can handily create a campaign here with a 6.9% fee on funds raised (2.9% of which is a payment processing fee).

Pros:

It opens doors toward a more extensive donor network, allowing you to connect with various supporters.
Campaigners can choose whether they want an all-or-nothing model or not.
Offers social sharing tools to help promote campaigns through various channels.

Cons:

An extensive donor network might make it more challenging to promote your fundraising campaign.
Transaction fees and platform charges may impact the total amount of funds received.
Limited localized support and resources are specific to the Maltese market.

4. Kickstarter

Kickstarter is a US-based crowdfunding platform mainly focusing on creative projects, including art, film, music, technology, design, and more. It charges a fee of 5% of the total funds raised and follows an all-or-nothing model, meaning that you must meet your funding goal to receive something.

Pros:

A good and reliable community of backers makes it easier to raise funds if your campaign is marketed correctly.
Offers a central platform that can provide significant exposure to campaigns.
Provides additional support and resources, including educational materials and campaign guidance.

Cons:

Strict project approval process, with some projects failing to meet the platform’s guidelines.
All-or-nothing funding model, where campaigns must reach their funding goal to receive funds.
Charges fees for using the platform, including a percentage of funds raised and payment processing fees.

5. Indiegogo

Indiegogo is another reliable and well-known platform for crowdfunding Malta that allows you to raise funds for your cause effectively and efficiently. It was launched in 2008 and offered services in around 235 nations with a transaction fee starting from 3-4%, depending on your location. The prices can be comparatively higher and up to 9%, depending on the funds raised.

Pros:

Allows campaigns to choose between fixed funding (all-or-nothing) or flexible funding (keep what you raise).
Provides access to a large global community of backers.
Offers additional marketing and promotional support through various channels.

Cons:

Transaction fees and platform charges apply, impacting the total funds received.
Competition from a large number of campaigns on the platform makes it challenging to gain visibility.
Some additional features, such as enhanced support and marketing, require higher pricing tiers.

Over To You!

In conclusion, crowdfunding has emerged as a powerful tool for charities in Malta, its individuals, startups, and social initiatives to access much-needed funds and bring their dreams to life. With the advent of technology and the rise of online platforms, crowdfunding has become more accessible. In this blog, we delved into the top five platforms for crowdfunding Malta: WhyDonate, ZAAR, GoGetFunding, Kickstarter, and Indiegogo. We hope that you were able to select the ideal platform for your charities in Malta based on its pros and cons. Happy Fundraising!

Choose the best platform and Start your Crowdfunding Campaign right away!