FundedByMe, a multi-national investment crowdfunding platform, recently announced it is re-launching its donation-based crowdfunding services in order to help small businesses during the coronavirus (COVID-19) pandemic. The platform reported that in the suites of the financial crisis following the Coronavirus, many people, as well as companies, have turned to its services for support, advice, and assistance.
To help those in need, the Board of Directors and the principal owners decided to re-launch the donation-based crowdfunding services Arno Smit, Founder and Head of Product, revealed that he is working tirelessly on launching the product, which will be launched soon. Daniel Daboczy, CEO FundedByMe, further explained:
“This emergency situation that hit the world because of the coronavirus shutdown, has motivated us to try to help as best we can. This product is optimal for companies who are not yet ready to use equity crowdfunding, but where the commitment from their own networks is high and where their ambition can take the company to the next level.”
Smit and his team further explained that donation-based crowdfunding differs from FundedByMe’s current core product “equity crowdfunding” in that fans, customers, or other individuals can support their local businesses in exchange for upcoming products, goods, services, and visibility. FundedByMe then noted it has previously helped more than 1000 projects and companies raise funds through this method. Daboczy added:
“Our hope is that companies will be able to use this product and get help, and that individuals who want to help but don’t know how can find an outlet where they can support their locals and neighborhoods.”