Crowdfunding | Vancouver, BC | Founded: 2008 | Employees: 11 - 50 | www.fundrazr.com
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Last updated December 28, 2018 | To download a PDF version, click here.
Company Overview
FundRazr is an online crowdfunding platform that connects people to organizations and causes that they care about. The company acts as an alternative funding source for start-ups, charities, and personal causes that are on philanthropic pursuits. Unlike other crowdsourcing platforms, FundRazr does not restrict causes, and supports fundraisers from around the world. The company provides a comprehension solution, using technology to maximize a fundraiser’s audience reach.
Senior Management
Daryl Hatton: CEO of ConnectionPoint (2008 – Present), CEO of Sponsifi (2015 – Present), Board Member of National Crowdfunding Association of Canada (2014 – Present), Business Partner of PayPal (2009 – Present). Education: Computer Science, University of Victoria (1980 – 1981).
Christian Sander: CTO of ConnectionPoint (2013 – Present), Software Developer of ConnectionPoin (2009 – 2013), Software Developer (2006 – 2009). Education: Computer Science, Humbdolt University of Berlin (2000 – 2006).
Bill Diamond: CFO of ConnectionPoint (2009 – Present), CFO of Keycafe (2013 – Present), Co-Founder of Capilano Drum Company Inc (2012 – Present). Education: BA in History & Diploma in Business Administration, Wilfred Laurier University (1986 – 1990).
History
FundRazr is a member of the ConnectionPoint Brand Family; Hatton’s collection of three companies whom collaborate to provide a variety of business solutions.[1] Hatton initially released FundRazr as a Facebook application, in which users could imbed the app into their organization’s Facebook pages as a crowdfunding tool.[2] In mid-2009, FundRazr partnered with PayPal to simplify their payment process.[1] The company has now evolved into a full-fledge online platform that has raised over $100 million in cause funding.[3]
[1] https://fundrazr.com/pages/about
[2] https://techvibes.com/2010/08/08/exclusive-interview-vancouvers-fundrazr-raises-the-bar-with-monumental-paypal-and-facebook-collaboration
[3] Ibid.
Funding
In 2009, FundRazr started with $525,000 in funding from the pockets of the founder’s family and friends.[4] Since, the company has been inducted into the New Ventures BC and C100 Association incubators, raising an additional $150,000.[5]
[4] http://www.newventuresbc.com/2014/03/where-are-they-now-fundrazr-a-standout-in-crowdfunding-market
[5] Ibid.
Key Corporate Developments
Press releases: https://blog.fundrazr.com
Jan 22, 2018: FundRazr Announces 0% Platform Fee for Personal Campaigns
Oct 2, 2013: FundRazr Surpasses £1M Milestone – 10 Notable Campaigns & Infographic
Aug 15, 2013: FundRazr’s Crowdfunding as a Service Platform launched at GROW 2013
Business Highlights
Strategy
FundRazr’s strategy is to be a comprehensive solution for fundraising initiatives. Currently, there is a gap in the crowdfunding market; crowd funders act exclusively as campaign hosts, providing no further assistance to aid their causes. FundRazr leverages social media analytics and offers administrative functions to provide a wholistic fundraising experience. By emphasizing the simplicity of their service, they attract individuals and organizations whom lack expertise in fundraising.
Products/Pricing
FundRazr’s comprehensive solution is composed of two products:
- Extensive Essential Toolset: This toolset is crafted for personal campaigns and small-scale fundraisers. Campaigns make their own pages, collect their own money using flexible funding options, and access FundRazr’s social media technology. This toolset has a 0% platform fee and a standard third-party fee of 2.9% + $0.30 per transaction for payment processing.[6]
- Advanced Professional Toolset: Targeted for mid-to-large scale organizations, this toolset has the features of the Essential Toolset with additional perks. It enables the opportunity for corporate sponsorship, multiple campaign types, increased social media analytics, and administrative features. This toolset has a 5% platform fee and a standard third-party fee of 2.9% + $0.30 per transaction for payment processing.[7]
[6] https://fundrazr.com/pages/how-it-works?gclid=Cj0KCQjw9NbdBRCwARIsAPLsnFZaxvqXJya-SxL6lmvwvj9j1pfJ4C97c94qR-UV3vj-4trBjr-7YzsaAtJhEALw_wcB
[7] Ibid.
Technology
FundRazr is driven by the company’s Crowdfunding as a Service Technology (CST) method.[8] By hosting fundraising pages, they can provide individuals and small businesses a comprehensive toolset to service their needs. Though, their main technological asset remains their social media analytics. By leveraging partnerships with large social networks like Facebook, the company sits on a data mine – creating increasingly effective local marketing campaigns for their customers.[6]
[8] https://techvibes.com/2013/08/20/fundrazr-introduces-crowdfunding-as-a-service-2013-08-20
Distribution/Logistics
FundRazr services campaigns through this online website in which individuals can create their own personal “cause page” using a toolset, rather than host on an aggregate host site.[8] Another distribution source is using FundRazr as an embedded “donate” box on a Facebook page or timeline.
Marketing
FundRazr’s marketing is driven by their strategic partnerships with large organizations like Facebook and Heritage Education Funds. As well, each of FundRazr’s 140,000 campaigns have “Powered by FundRazr” present on their page – extending brand awareness.[9]
[9] Ibid.
Competitors
Philanthropic crowdfunding platforms is a niche market. But, there are a variety of competitors in the general online crowdfunding space, below are two examples:
- Kickstarter - Founded in the US, Kickstarter is the world’s largest online crowdfunding company. Kickstarter’s goal is to raise money to fund creative projects. Fundraisers are hosted on Kickstater’s website, rather than given their own page.
- Giveffect - Giveffect is an online software that enables charities to crowdfund directly from the charities’ websites. Based in Canada, the company also allows for donations to be accepted by text and enabled pledge installments to provide a multi-media solution.
Corporate Profile Created By: Nikki Rok, Ivey HBA