This week, Crowdfunder UK reported that more political candidates are excepted to crowdfund their election campaign in the snap general election. The crowdfunding platform revealed that just a little over a week since the election, projects on its website have raised £200,000 in the politics category.
According to Crowdfunder UK, over 600 political projects have raised more than £1.6 million from 65,000 supporters on its funding portal since its launch. During the general election two years ago, more than 200 political candidates secured over £300,000 for their election campaigns from 10,000 supporters. The funding platform stated it expects to see potentially 50% more candidates to seek funds on its website for their political campaigns. Graeme Roy, Head of Data Analysis at Crowdfunder, explained:
“Crowdfunding election campaigns has exploded. We are on track to see an 80% increase in political funding – and that was before the general election was called – so this is massive. There are two huge benefits that crowdfunding delivers for candidates: speed of funding that simultaneously generates awareness and wide support.”
For this year’s election, Crowdfunder UK noted it has added additional functionality that could help candidates raise funding more easily. Backers can now donate on Crowdfunder – simply pledging money to a candidate without expecting a reward in return. Instant payment functionality also enables project owners to access funds as soon as they are pledged before their crowdfunding campaign ends, and in line with electoral commission guidelines. Phil Geraghty, MD, Crowdfunder UK, then added:
“Crowdfunding is the ultimate democracy. It connects people to help make great ideas happen, raising funds, and awareness. We are very proud to be a driving force behind British politics for this historic election – and we encourage any candidate to register with the site and explore how easy it is for them to raise money with us.”
— Phil Geraghty (@pgeraghty) April 26, 2017
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