Fundraise Better

Your Definitive Guide To How Crowdfunding Works

Published on February 21, 2024

Need funds for medical emergencies?

Crowdfunding is an alternative way to raise money for medical, memorial, social, educational, and other relevant causes by requesting a large group of people to come and donate to your cause. Many platforms are offering this service.

Milaap is one such crowdfunding platform with over 10 years of crowdfunding experience. You may be reading this article hoping to learn how you can use crowdfunding for your medical, memorial, or social cause. You may already have a fundraiser set-up on Milaap.

We have compiled this guide to shed some light on how your crowdfunding journey would look like.

Table of Contents

Start A Fundraiser

In case this seems overwhelming, don’t worry, we know nobody’s Shakespeare except, well … Shakespeare.

So we have a nifty little guide on how to write a captivating story for your fundraiser. We are sure following these simple steps will see your fundraiser receiving funds in no time!

>> Tips on how to write an effective story for your fundraiser

Need help setting up your Free Fundraiser?

Fill up the form below and our team will call and help setup your fundraiser

Milaap is trusted by

Utilize Your Social Media Network

Does this seem daunting? Don’t worry, you will have one of our experienced crowdfunding experts to hold your hand every step of the way to guide you on your journey. Rome wasn’t built in a day, and we know every bit of help makes a difference.

Our team will share a bunch of tools to share your campaign effectively with your network

Keep a track on your campaign using our user-friendly app

Milaap Success Story

This Young Girl Got Lung Cancer Right After Beating Kidney Tumour, She Won Against Both

You've got your first donation!

Woohoo! That’s great! Now that the donations are coming in, you would want to keep all your relevant documents handy for the withdrawal process.

How Can I Withdraw The Funds?

*Proof-of-relationship: This includes any government issued KYC document such as pan, adhaar, voter ID, ration card, passport, etc., that mentions that the recipient is the direct next-of-kin of the beneficiary.

Only the beneficiary’s, relatives’ that are next-of-kin, hospital’s account, recipient NGO’s bank accounts are considered for the withdrawal of the funds. Distant relatives, friends, and other people aren’t eligible for the withdrawal of funds from the campaign.

You will need the following documents to proceed with the withdrawal request. Please ensure to collect the documents beforehand and keep them ready for the withdrawal process.

FAQ:

Why should I use Milaap to raise funds?

The benefits of using Milaap are mentioned below:

There is 0% platform fees for running a fundraiser.
Accept donations from people around the world in multiple currencies.
Your will have a dedicated relationship manager as well as industry leading customer support team who will be there to guide you throughout your journey.
Milaap fundraisers accept donations in any payment method from UPI, to bank transfers, credit/debit cards, netbanking and the like. Your donors have multiple options to choose freely from.
Over 25% of our donors are people who have donated before on Milaap. This stands as a testament to the loyalty we have earned over the years.
Our tools help you share your fundraiser with your social contacts effortlessly to reach the widest audience. You can share via messaging, email, Whatsapp, Facebook, Twitter (X), or Linkedin.
You can monitor all your fundraisers from the Mobile App seamlessly and also withdraw funds, upload updates, thank donors and other options.

Can I trust Milaap?

When someone starts a fundraiser, our team contacts them for supporting documents to ensure the cause and the recipient is legitimate, and that funds raised are used appropriately.

Our Verifications team reviews the recipient to by collecting the KYC IDs - like Aadhaar, Pan, Driving License, etc. to ensure the funds reach the correct beneficiaries.

The funds will then be transferred to either the beneficiary or next-of-kin’s accounts or to a relevant entity such as the treating hospital, NGO, and vendors.

At Milaap, we diligently verify fundraisers and continually monitor them to ensure your donations are put to good use. While such cases are rare, if a fundraiser is found to be fraudulent, rest assured that Milaap will provide a full refund for your donation. If you ever have concerns about a fundraiser, please report the fundraiser immediately.

Read more about our Trust & Verification Policy

What information do I need to provide while setting up a fundraiser?

To set up a fundraiser, the organizer will have to provide the following information:

Organizer details - Email ID, phone number (preferably one that is available on WhatsApp), Name
Cause details - Goal amount, beneficiary details, fund utilization
Supporting documents - Upload supporting documents to prove that the need for funds is genuine. For example - Treatment Estimate letters, college admission letters, project details, etc will have to be uploaded once the fundraiser is live. Once the documents are uploaded, withdrawal of funds will be enabled on your fundraiser.

Is there any fees or interest Milaap earns on my money raised?

Milaap has ZERO platform fees and does not use the funds raised on the campaigns for any kind of interest.

How do I withdraw funds from my fundraiser?

Withdrawing funds from your fundraiser is a simple process. The following steps are to be performed to ensure a quick transfer of funds:

Adding the recipient’s bank account along with their KYC documents. Your account will be reviewed by our internal team withint 24-48 hours.
Clicking on 'Transfer Request' and submitting it for the amount required.

98% of the withdrawals are processed within 24 - 48 hours!

Does the money deposit into my account automatically?

No, you will have to add the bank account of the beneficiary, next-of-kin relative, recipient NGO, hospital's account for review. Review takes around 24 hrs and after approval you can request a withdrawal for the amount from your campaign's dashboard.

Are my transactions on Milaap secure?

Milaap uses industy leading 256-bit SSL encryption for all its transactions. This ensures all transactions made to and from your campaign are secured.

Need Help Raising Funds For Your Medical Emergencies?