In this day and age, charities, entrepreneurs, and individuals can raise large sums of money thanks to crowdfunding. People in India have started to support social causes, medical projects, startup ideas, and other creative works. Online platforms have made it effortless to pitch a project and gather funds from interested sponsors. Each platform specializes in donations, reward based funding, equity based funding, or even peer-to-peer loans. Here are the top 10 crowdfunding platforms in India that offer assistance for your financial needs/ goals.

1. Ketto

Ketto is one of India’s major crowdfunding platforms that helps people to self-fund scholarships and aid medical campaigns, among other things. Ketto was started in 2012 and has since been a crowdfunder of social, personal, and creative projects. It is very straightforward to use the platform, as fundraisers can easily make campaigns and publicize them via social media.

Pros:

User-friendly interface
Low setup barriers for campaigns
Strong social media integration

Cons:

Platform fees may apply
High competition due to the large number of campaigns

2. Milaap

Milaap is another example of a donation-based platform. Dedicated to altruistic purposes, it is mostly employed for educational and medical purposes, as well as serving as a means to fundraise after crises. The platform and mobile application has been in use since 2010 and are very popular due to the lack of platform fees.

Pros:

No platform fees for most campaigns
Supports a wide range of causes
Simple and transparent process

Cons:

Limited focus on business or startup funding
Success depends heavily on social media promotion

3. ImpactGuru

ImpactGuru has been offering crowdfunding services to social enterprises, NGOs, and even personal projects since 2014. It is often used to get funding for business ventures, medical treatments, or social impact projects, and due to this, millions of dollars has been raised using the platform. The platform combines with foreign crowdfunding sources as a way to widen the scope of fundraising.

Pros:

Global reach for fundraising
Partnerships with international organizations
Strong support for medical fundraising

Cons:

Platform fees apply
Requires effective campaign marketing

4. Wishberry

Wishberry is well known for being an all-or-nothing platform when it comes to funding. Pledged money is only rendered after a campaign achieves its goal, which guarantees high quality projects from backers, such as films, art, music, and technology. In addition, any type of creative campaign can be published on the platform.

Pros:

Specializes in creative projects
Offers campaign consulting services
High success rate for well-prepared projects

Cons:

The all-or-nothing model may deter some campaigners
Platform fees and consulting charges apply

5. Fueladream

Fueladream, which is located in Bangalore, is a crowdfunding website that serves social and personal objectives. The platform offers campaign assistance to campaigners, which improves their chances of success to a greater extent. It emphasizes technology, social impact, and creative funding.

Pros:

Supports both personal and social causes
Offers hands-on campaign guidance
Transparent and easy-to-use platform

Cons:

Selective about the projects it hosts
Platform fees may apply

6. Catapooolt

Catapooolt is a crowdfunding platform launched in 2013 that focuses on music, literature, gaming, fashion, film and technology projects. Catapooolt seeks to create a user-based ecosystem where innovation and creativity can thrive.

Pros:

Diverse project categories
Offers mentorship and marketing support
Focuses on community building

Cons:

Platform fees apply
Campaigns require active promotion to succeed

7. Donatekart

Unlike most crowdfunding platforms, Donatekart enables donors to buy products rather than donating money. NGOs specify the products they want and donors then buy these specified products directly. This system enhances trust among donors and other contributors.

Pros:

Ensures transparency in donations
Supports a wide range of NGOs
Direct impact on beneficiaries

Cons:

Limited to in-kind donations
May not be suitable for all types of fundraising needs

8. Rang De

Rang De is India’s very first P2P online micro lending platform that brings social investors and underprivileged communities together. Rang De makes it easier for people to obtain loans for education, entrepreneurship, and other needs, which in turn helps them to gain financial freedom.

Pros:

Focuses on social impact
Provides low-interest loans to borrowers
Allows investors to make a difference

Cons:

Returns for investors may be lower than traditional investments
Risk of loan defaults

9. Crowdwave Trust

Crowdwave Trust is one of the online crowdfunding platforms that helps connect NGOs and donors. It gives assurance to donors that their funds will reach the registered organizations, so it makes supporting social causes easier.

Pros:

Supports diverse causes
Donations eligible for tax exemptions
No hidden costs

Cons:

Platform fees may apply
Limited to non-profit fundraising

10. Fundable

Fundable is a crowdfunding website that caters to startups and entrepreneurs with equity and rewards crowdfunding. This site helps restrict the way through which the investor’s funds are channeled into the business, unlike other businesses.

Pros:

Supports both equity and rewards-based crowdfunding
Ideal for startups and early-stage businesses
Provides structured fundraising tools and support

Cons:

Not suitable for personal or non-profit fundraising
Success depends on the strength of the business proposal
Platform fees may apply

Conclusion

The emphasis of social and medical campaigns is better served by platforms like Ketto, Milaap, and ImpactGuru. Fundable and Catapooolt are better for business and startup campaigns. Wishberry covers creative projects, and Donatekart allows direct product donations which ensures transparency. It is always best to analyze the fee structure, campaign prerequisites, and the ratio of successful to unsuccessful campaigns to best tailor the chosen platform to your goals.

FAQs

1. What is crowdfunding, and how does it work?

To collect monetary donations from a wide audience, typically online, crowdfunding serves as one of the most effective methods. Individuals, corporations, and not-for-profit entities can use it to garner financial help for projects, social causes, or entrepreneurial activities ranging from a business plan to a full fledged non profit.

2. Which crowdfunding platform is best for medical emergencies?

For fundraising veterinary- or healthcare- related purposes Ketto, Milaap, and Impact Guru are some of the more specialized platforms available that also cater to other areas of medical fundraising.

3. Can businesses raise funds through crowdfunding in India?

Entrepreneurs and startups looking for funding through equity or rewards based crowdfunding can find assistance on Catapooolt and Fundable.

4. Is crowdfunding legal in India?

Regulated by SEBI, equity crowdfunding is legal in India but comes with restrictions to protect investors. However, other forms of crowdfunding are unregulated.

5. Are donations made through crowdfunding tax-deductible?

Through the platforms Crowdwave Trust and Donatekart, registered NGOs can receive tax free donations through tax exemption donations under section 80G of the act of income tax.

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