Wednesday, March 22, 2006

Fund-Raising Goes Peer-to-Peer

I thought this was a brilliant use of the power of network centric cooperation. Came across this company via Business 2.o.

What is Fundable? lets groups of people pool funds to make purchases or raise money. Similar to online auctions, Fundable's pages, called "group actions," are created by people who use this site. Each group action has a description of how much money needs to be collected and what it will do. Once enough pledges (not payments) have been collected, Fundable turns them into real payments and sends the total to the group action's organizer.

No one takes a risk when making a pledge: if a group action expires before reaching its total in pledges, Fundable deletes all pledges and never charges money. This lets you participate in a group purchase or fundraiser without worrying about what other people will do. No one pays until and unless everyone else makes a pledge.

Fundable is still in beta. Please write to report bugs.

Fundable Frequently Asked Questions

Fundable Methodology

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