With the developing trend of the use of internet in almost all the fields, the number of the people using the internet is growing rapidly even in the field of crowdfunding. Most of the people throughout the world; i.e., over 70% of the total population of the world are not insured medically or are grossly under-insured. Due to this, most of the people throughout the world; i.e., especially in the developing and the under-developed countries; die untimely due to serious diseases like cancer and others that require large amount for successful treatments. On the other hands, loans; that most of the people throughout the world prefer as their economic support in the time of need; demand extremely high rates of interest. Moreover, there’s a cap on how much money you can get through the loans. And this differs from company-to-company. Here, one of the most-horrible things is that loans also create ‘DEBT’.
Just contrast to loans, crowdfunding is a debt-free option to get economic support in the time of need. Moreover, there’s no boundary on how much amount you can raise through crowdfunding. Also, crowdfunding doesn’t make it necessary for you to meet any strict eligibility requirements. All that you need includes some of the most-basic documents like medical bills, ID-Proofs, etc. Moreover, on raising funds through crowdfunding, you don’t need to wait for days and months. In fact, you can get your funds within 24-hours.
There are different types and/or modes of crowdfunding. Only few of those modes are legal in Nepal. The country hasn’t still legalized a few modes of crowdfunding. In one way, crowdfunding is still in the process of development in Nepal.
Crowdfunding is one of the quickest and easiest methods of raising money for some important needs and/or purposes through the use of the internet and social media. Aarambha is the first online platform for Nepal on the internet that allow you to raise a large number of donations from people around you and throughout the whole world so that you can fulfill any need or requirement that benefits certain serious personal, social, creative, and/or medical needs. Aarambha makes this process easy, transparent and cost-effective.
There are hundreds of fundraising campaigns being started every day on different popular fundraising websites throughout the world. Most of the fundraisers utilize the fundraising platforms to ease their payment for critical and serious needs; mostly, those related to medical requirements and serious treatments; like cancer care and/or treatment, relief campaign for support disaster management, a non-profit or social cause or sometimes, even personal needs like education or any serious needs.
Crowdfunding doesn’t always benefit the one who makes pledges. Rather, it also benefits the person or the organization making donations. Depending upon the type of the benefit that the donator gets, there are 4 major types of crowdfunding as listed below:
Reward-Based Crowdfunding
This type of funding involves a reward that is given to the supporter in exchange for the money that contributes to a project/cause. Here, the reward can be anything and in any form. Sometimes, this reward can also in the form of an exclusive discount or a special gift.
Donation-Based Crowdfunding
This type of crowdfunding is completely meant for the beneficiary without meaning to give anything to the supporter in return for the money that he/she contributes. The only thing that the supporter gets in this context is the self-satisfaction.
Debt-Based Crowdfunding
This mode of crowdfunding is something like a banking finance. Here, the donators get their money back along with an interest. Although it’s legal in Nepal, it’s still not that feasible as it should have been because it needs a huge upfront capital which is hardly possible for the startups.
Equity-Based Crowdfunding
This mode of crowdfunding is one of the modern modes. Also, it’s getting popularity with the passing time. Here, the person making any contribution also gets certain equity or share in the company.
You don’t need to pay anything in-order to start a fundraiser campaign on Aarambha. You can start it for completely free of cost. Aarambha simply charges you with a few percentage of the amount that you raise through the fundraising campaign as fees or service service-charge based on the type of package you choose. Aarambha is designed to help you get the maximum amount of what you raise through your campaigns. The government applicable taxes and gateway taxes will also be deducted.
Whatever amount you raise through Aarambha is considered a donation or a gift. And there’s no liability for you to return the money back to the company at any point and in any manner. With this, you can be fully sure about getting all your amount that you raised through your campaign without the worry of debt or interest.
On Aarambha, you can start a fundraiser immediately. Simply, add the relevant images and information to let the donors know about your aim behind starting the fundraising campaign. Once you do this, the professionals from Aarambha will reach out to you to verify the information that you provided. You can simply submit all the supporting Documents and your ID Proofs, and other relevant documents for the verification. Having this much done will start your fundraising campaign.
Once your fundraising campaign raises a certain amount via Aarambha, you can make a request for withdrawal. We shall transfer your funds within 5-7 days after we verify your bank-account details. There’s no limit on request for withdrawals. You can request as many withdrawals as you need.
Honestly, Aarambha earns through the success fees. It happens with every crowdfunding company that it compulsorily needs manpower and technology to keep itself up and running on its platform in the market. The people and technology involved in keeping it functioning in a well manner need to get paid in-order to live their life just like other people do.
No, Aarambha doesn’t ever ask you to pay anything that you collect / raise through crowdfunding using our platform. However, in case if you need to provide your backers with rewards in exchange for their money, you must get it done.