Since its Canadian launch in June 2014, Tilt has been the easiest way for Canadians to collect money from a group. Now, the company sees groups collecting money every three minutes on its platform.
Country manager at Tilt, Tim Ryan explained, “Collecting money from groups is hard, we make it easy. It’s that simple. Traditionally, people have used cash, cheques and bank transfers to settle up with their group. We provide a simple, secure and social way to coordinate the entire process.”
While the company regularly sees large crowdfunding campaigns launched through its platform, the dominant activity is around smaller groups collecting funds from their own network. Ryan added, “These are groups collecting money from their friends, family, and colleagues — people they know.”
It’s reflected in the numbers, too — the average Canadian Tilt campaign pools more than $480 with the help of at least eight contributors. Most campaigns (also called Tilts) start on Wednesday afternoons between 1-2 p.m. EST and collect the most money on Thursday evenings.
Some recent campaigns give an idea of the breadth of ways groups are using the platform:
- A birthday gift Tilt collected $355 from 14 friends for a new bike
- A student collected $458 from her classmates to pay for their new team sweaters
- An organizer collected money from 57 friends to see the Toronto Raptors play
- A team captain collected $517 from her teammates for their sports league fees
Since its Canadian debut, Tilt has seen 90 percent month-over-month growth in new campaigns, with many of its most popular Tilts coming from the gift, trip, group activities and fundraiser categories.
Founded by James Beshara and Khaled Hussein in 2012, Tilt has gained the attention of notable investors including Ron Conway, Marc Andreessen, Sean Parker, Reddit’s Alexis Ohanian and WordPress’s Matt Mullenweg. It’s also the preferred payment partner of ESPN fantasy football and basketball league dues.