How come you don’t have all the platforms?
There are over 500 platforms globally. It’s a very time consuming task to add a platform to our system. We manually go to each platform to collect the data like fee structure, restrictions, and campaign types. We are adding a few platforms to our systems every day starting with the larger once and going down to the specific niche ones. If you would like us to add a specific platform please let us know at email@example.com
Can you explain how the filtering works?
For now there are three creterias that you can filter on.
1. Platform Type: All platforms in our system belong to one or more platform type:
- Equity: In return for money the requester (corporation) will give the giver(investor) equity ownership in the corporation.
- Debt: The requester borrows money from a pool of givers and promises to pay back the loan plus interest.
- Reward: The requester gives a reward in return for money. The reward can range from a simple thank you to a pre-sale of a product.
- Donations: The giver donates money to a campaign and receives nothing in return. In the US individuals donations to non-profit organizations are tax-deductible.
2. Countries of Requester: This specifies in what countries can the campaign originate from. If you want to receive money than you need to make sure that the platform you are using supports your country.
3. Campaign Type: There are two types of campaigns either ‘All or Nothing’ where the requester gets to keep the money only if he reaches the goal or flexible ‘Keep what you Raised’ where the requester gets to keep the amount that they raise even if they don’t reach the goal.
Can you Explain what all the Specifications mean?
Platform Type: Please look at the answer above.
Countries of Requester: Please look at the answer above.
Countries of Givers: Countries from which money can be received
Campaign Type: Please look at the answer above.
Fees For Completed Campaign: Fees that are charged when the campaign reaches its goal.
Fees for Partial Campaign: Fees that are charged when the campaign goal is not reached. Only applicable if the platform supports ‘Keep what you Raised’ campaign type.
Transaction Fees: Fees for processing payments.
Other Fees: Any other fee that the platform charges.
Monthly Visitors: The amount of people visiting the site monthly based on compete.com
Requester’s Credentials : Any limitations on the requester. (i.e. requester needs to be a non-profit)
Giver’s Credentials: Any limitations on the giver (i.e. The giver needs to be an accredited investor)
Additional : Any additional information that didn’t fall into the specifications above.
How come some specification fields are blank?
We collect the data by going to every single platform and reading about them. We can only provide the fields that we get from their website. If they don’t specify a particular field then we leave it blank, don’t assume its zero. So if you see a blank fee doesn’t mean its zero, please check with the platforms themselves if you have any specific question about them.