The use of small amounts of capital from a large number of individuals to finance a new business Venture

Fundlined, started by 17 year old Siddharth Shetty, is a new entrant in this field

Siddharth had never heard about crowd funding either before he started Fundlined. It was while listening to a promo of a startup conference in Goa on the radio that the idea of creating a centralized platform was born

Fundlined  has people working remotely from Goa,Roorkee, Mumbai, Bangalore and Noida

Siddharth says the USP of Fundlined is that it works with each and every campaign creator at a personal level to ensure that their campaign has the best chance of being a success.

Crowd funding makes use of the easy accessibility of vast networks of friends, family and colleagues through social media websites like Facebook, Twitter and LinkedIn to get the word out about a new business and attract investors

Types of Crowd Funding

Two schemes of crowd funding

All or nothingFixed funding platforms, like Kickstarter, only offer you the cash if you reach your target.

Flexible Flexible-funding means that you still get the money even if you don’t hit your target (you just get charged more)

How to set up a project?1. Have a great idea!

2. Budget to include the final fees you pay to the platform

3. Choose the right platform for the project

4. Write your pitch and make a video (simple is fine!)

5. Design your rewards - remember to include all the costs in your budgeting, and involve outcomes from the project you’re pitching for - be as creative as possible.

6. Get several people within your organisation to edit the project before it goes live

7. Go live! Email your mailing list, hit up your social networks, remind people of the great rewards they get.

8. Introduce something new (information, a new reward) shortly before the end of your time period to get the project back on people’s radars

9. Celebrate your success and crack on with the project, or learn from what you did wrong and try again.

FeesCampaign Successful

5% This fee is taken if the campaign reaches its goal.

Campaign Unsuccessful

15% This fee is taken if campaign doesn't reach its goal.It's charged only on the funds you raise.This encourages people to set reasonable goals and promote their campaign.

Third Party Fee

3%This is a payment processing fee and will be borne by the campaign creator only.It covers 100+ International and National payment options(Credit Cards, Debit Cards, ATM-cum-Debit Cards, Net Banking, Cash Cards and Mobile Payments)

Setup Fee

Rs. 2,500We offer extremely personalised support to each and every campaign creator.You would be provided with a Personal Crowdfunding Coach, right from the start till the end.

How do backers know if a campaign is genuine and not fraudulent?

Backers should look for creators who share a clear plan for how their campaign will be completed

Creators are encouraged to share links and as much background information as possible

If a creator has no demonstrable experience or doesn't share key information, Backers should take that into consideration.

You can always reach out to the creator before giving any money.  

Is a creator legally obligated to fulfil the promises of their campaign?

Yes. In case of Fundlined’s terms of use, creators are required to fulfil all rewards of their campaign or refund any backer whose reward they do not or cannot fulfil

Do backers get tax deductions on their contributions?

Not all campaigns provide tax deductions, especially the ones which are of creative, non-social and of a private nature.

But some social campaigns, if led by NGOs or involve NGOs, definitely provide tax deductions if the entity has necessary legal clearances to provide these deductions.

In briefScalable and transparent online platforms - from personal

loans to business loans, to equity investments, to getting an idea off the ground.

Crowdfunding enables the end consumer, investor and entrepreneurs to engage in a more scalable, transparent way with the value and rewards being shared fairly between them rather than accruing to the intermediaries.

It enables financial literacy and inclusion and could represent a significant chunk of the money flow in the future.

Thank you