This article takes you through the different stages of setting up crowdfunding on the platform.
If you can’t select the crowdfunding option when adding an activity, contact your Customer success manager to get this enabled.
- Choose Crowdfunding activity type
- Fill in details of your campaign
- Verify your Identity based on where you live (one time only)
- Add or check your bank details
- Create a budget
- Inspire people to donate (optional)
- Wait for your funding activity to be reviewed
- After campaigning, wait for payout
Note that to receive donations and payouts, you can only set up your campaign when the bank account you use to transfer the donations to is in on the following countries (your validation is separate to your bank account):
Austria, Belgium, Bulgaria, Switzerland, Cyprus, Czech Republic, Germany, Denmark, Estonia, Spain, Finland, France, United Kingdom, Gibraltar, Greece, Croatia, Hungary, Ireland, Italy, Liechtenstein, Lithuania, Luxembourg, Latvia, Malta, Netherlands, Norway, Poland, Portugal, Romania, Sweden, Slovenia, Slovakia.
1. Choose the Crowdfunding activity type
Choose the Support with money option when you're creating an activity within your initiative.
Or go to your initiative page and click ' + Add another activity.'
2. Fill in details of your campaign
Share the details of your campaign and inspire people to donate.
It all starts with a good pitch: a short text that explains quickly which problem you will solve, why it’s important and what you need to realise it.
The campaign text provides more information on your project. It’s meant to interest your audience by being explicit and transparent in telling what you intend to do and what you need. A good and recruiting crowdfunding text is personal, enthusiastic, specific and urgent. So tell something about yourself in the text as a well: who are you and why are you so committed? Give practical information about the why and what, but also convey emotion to your audience. Make sure you tell your story passionately and emphasise the originality of the project. Entice your public by being clear (no jargon) and be direct in your call to action. So don’t just say: “look how much fun my project is” but also “contribute and make it happen”. And last but not least, it’s important that people can easily contact you or find more information on your project.
3. Verify your Identity based on where you live (one time only)
To make sure the money you raise is collected and transferred in the safest way possible, a (KYC) validation is part of creating a crowdfunding campaign.
KYC stands for Know Your Customer, an essential process for financial institutions like payment service providers to make sure financial systems aren’t abused.
Depending on where you live, a validation flow and verification documents could be required. The image beneath shows the validation process for people who live in the Netherlands:
Once you've uploaded your verification documents, your identity will be verified by our payment service provider. Read here how the payouts are secured.
If you've already had a verified identity on your platform this step is automatically skipped.
4. Add or check your bank details
Please list the bank account details you'd like the money to be transferred to. This doesn't have to be your personal bank account. You could, for example, verify your identity in the previous step living in the Netherlands, but use the bank account of an NGO in Greece, for example. The money will be transferred within 30 days after the deadline for your campaign has passed.
5. Create a budget
A transparent budget visualises your funding goal and motivates people to support you.
6. Inspire people to donate (optional)
Sometimes people need a little push. Let them choose what their donation will buy or give them a reward in return.
If you don't want to add a reward you can just skip this step and click on 'Save to initiative'
7. Wait for your funding activity to be reviewed
Your activity is now 'In review'. Your Platform Manager will review and change the status accordingly, and you’ll be notified by this per email. Once approved, the campaign is live and ready to use.
8. After campaigning, wait for payout
When you’ve finished campaigning, the platform manager needs to approve the payout. Read here more on “How does the donation payout work?”
Once this is done and all payments are successfully in the backoffice of our Payment Service Provider, Stripe, we can start the payout.
The payout is typically available for 7 days but can be up to 14 days. This delay allows Stripe to mitigate some of the risks inherent in providing credit services. Every Thursday GoodUp processes the payouts which are ready.