6 Top Crowdfunding Platforms in Singapore
Crowdfunding is a relatively new industry in Singapore. It is the practice of pooling small support from multiple sources for either a business venture, community fund, or personal causes. It appeals to many Singaporeans due to its simplicity – relying on its rapid and easy way to raise funds via an online platform with just one click. This gears them away from filling up personal loan forms from usual financial institutions like banks.
Considering that crowdfunding is still in its infancy stage, scams and risks abound this industry. Here are some legit platforms Singaporeans may get funding from for a variety of purposes.
Rewards type Crowdfunding Platforms
For the unconventional type, your go-to platform may just well be Indiegogo. This crowdfunding platform features clever and innovative products such as a 4-in-1 film called Love Stalk or a fashion-must-have Swiss Dress Watch. A project owner must give their all when promoting their ideas as Indiegogo can only reward donated funds if they achieve their goal – it’s all or nothing.
Peer-to-peer Lending Crowdfunding Platforms
Funding Societies gives a new meaning to crowdfunding as they stand to be the first peer-to-peer lending platform to support the development of small to medium enterprises in Singapore like We The People and World Snack Pte Ltd. So if you are an entrepreneur and looking to sell your next big idea to interested investors without the burden of personal loans, you can sign up to this crowdfunding platform for free; however, do expect an interest rate on investment loans to as high as 14% per annum.
MoolahSense considers itself as the pioneer and most trusted digital peer-to-peer lending platform in Singapore. Just like Falcon Mobility Augmentin, other SMEs making a name in the business industry with their innovative ideas should then try this crowdfunding platform to help them raise their capital. Although success rate is high, high platform fees of MoolahSense can also be a burden especially for new entrepreneurs.
Donation type Crowdfunding Platforms
Giving.SG goes beyond money donations for charitable causes; it also offers an option for supporters to volunteer to any organization they want to sponsor. Projects can range from animal welfare to women rights advocacies to environmental movement. Some of the most supported fundraising projects they have had are that of charity organizations like Trybe’s Be An Everyday Hero campaign and CARE Singapore’s Building Blocks for Life project. Donors are not charged for their donation; however, project owners are being charged at least 3% platform fee when donated funds are rewarded at the end of the project.
If your heart and soul is into giving, you may give Give.Asia a try. This crowdfunding platform boasts on its advocacy of starting a “giving” revolution among its million users; that may be the reason why it has gathered lots of supporters for some projects like Nurul’s and Erin’s. Although Give.Asia does not ask for platform fees from project owners, supporters are charged with payment processing fees per donation to charities sent in thru this site.
But if you are looking for a one-stop shop for your fundraising needs, Airfunding is your friend. Categories range from business capital funding to emergency disaster fundraising to even just wanting to travel around the world – anything you can think of, you can do it here. Much like Karina’s cause to help her dog Bobbi or Sundararaman’s fight against cancer for his dad, Singaporeans can enjoy the benefits of getting donations from around the globe with no hassle.
Open a project today and fundraise your way to your dreams with Airfunding!