Could a stranger pay for your wedding or even your next HOUSE? Indiegogo becomes latest site to let you raise money for personal projects
- Crowdfunding site has launched Indiegogo Life for personal fundraising
- It lets users ask for money towards weddings, funerals or medical bills
- Indiegogo typically charges up to 9%, but fundraising on Life is free
- Site is divided into categories such as Emergencies, Community, Sports and Celebrations
- It is the latest trend in crowdfunding sites designed for personal projects
- Another includes peer-to-peer mortgage sites such as LendInvest.com
Indiegogo has become the go-to place for startups to raise funds for weird and wacky products.
But, the site's latest move lets everyday people ask strangers for money to help pay for personal projects such as weddings, operations, buying a house, paying tuition fees and more.
The site is called Indiegogo Life and it lets users set up campaigns for free - effectively scrapping the fees charged to businesses on the original site.
The California-based site (pictured) lets users ask strangers for money towards weddings, funerals, operations or other personal projects. Indiegogo typically charges up to 9% for listings, but fundraising on Life is free and the site is divided into categories such as Emergencies, Community, Sports and Celebrations
The traditional Indiegogo site charges businesses between four and nine per cent fees to launch a campaign, but listing a campaign on Life is free.
However, payment providers may still charge a fee, or around three per cent.
All campaigns on Indiegogo Life are public, and like with traditional campaigns, are monitored by Indiegogo staff to make sure that the service isn’t being abused or that donors aren’t being duped.
PEER-TO-PEER MONEY LENDING
Indiegogo Life is the latest in a rising trend of crowdfunding sites set up for personal projects.
These are similar to fundraising sites such as JustGiving, and offer a level of security that traditional social media can't provide.
LendInvest.com, for example, is a peer-to-peer money lending service.
It lets people pool their money and act as a lender to a buyer, and people can invest as little as £100 in a person’s mortgage.
Repayments are then made monthly, with interest, and investments are typically governed by the P2P Finance Association.
Elsewhere, ZeroBound was set up to help people raise money to pay back their student loans.
One campaign on the site is currently asking for money to help a family move home following the husband suffering a serious cycling accident, for example.
Another needs money to pay for a litter of kittens that was dumped by the side of the road in France.
All donations are made as gifts.
‘Indiegogo Life takes the idea of human empowerment even further - helping individuals fund what matters most,' said the site.
‘Whether it’s tuition, veterinary bills, celebrations, or a medical emergency, Indiegogo Life is there to help through all of life’s challenges and celebrations.
‘We understand that sometimes it’s necessary to seek extra support, and we believe no one should have to do it alone.
'Indiegogo Life makes it easier to raise funds and make a difference -one life at a time.’
Campaigns can run for up to 120 days, and the money is usually received within 15.
It is the latest in a rising trend of crowdfunding sites set up for personal projects.
These are similar to fundraising sites such as JustGiving, and offer a level of security that traditional social media, for example, can't provide.
All campaigns (example pictured) on Indiegogo Life are public, and like with traditional campaigns, are monitored by Indiegogo staff to make sure that the service isn’t being abused or that donors aren’t being duped. All donations made on Indiegogo Life are made as gifts
LendInvest.com, for example, is a peer-to-peer money lending service.
It lets people pool their money and act as a lender to a buyer, and people can invest as little as £100 in a person’s mortgage.
Repayments are then made monthly, with interest, and investments are typically governed by the P2P Finance Association.
Elsewhere, ZeroBound was set up to help people raise money to pay back their student loans.
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