Indiegogo announces Aussie dollar crowdfunding

Indiegogo announces Aussie dollar crowdfunding

Crowdfunding campaign funds can now be pledged and disbursed in Australian dollars

They invented crowdfunding, they have tripled their Australian marketshare in one year and they have even made Malcolm Turnbull 'listen about NBN'.

But today, the team at Indiegogo, the world's largest crowdfunding platform announced they will now give Australian campaign owners the ability to run their campaigns in Australian dollars, at an event in Sydney.

Funds on Indiegogo, which has launched more than 150,000 campaigns and raised more than $10 million in just one campaign, can now be pledged and disbursed in Australian dollars, rather than having to exchange the money into US dollars first.

This results in savings on foreign exchange, wire and bank fees, as well as a higher potential total take-home amount for Australian campaigns.

Since launching in 2008, thousands of Australian campaigns have raised millions of dollars.

Their campaigns have included `Get Malcolm Turnbull to listen to Australia about the NBN'.

This sprung from a situation where a group of concerned citizens simply needed to raise $15,000 to place an advertisement in a local newspaper to send a message to Malcolm Turnbull about the NBN and wound up raising nearly $60,000.

Over the last year alone, the amount of money raised for Australian campaigns has nearly tripled, led by exponential increases in technology and design.

The company expects to continue seeing this rate of growth.

Danae Ringelmann, co-founder and chief customer officer of Indiegogo, who watched her parents struggle to gain finance for the family business while growing up, said Australians had always believed that everyone deserved a fair-go.

"We are constantly looking for better ways to improve the platform and better equip our global community to fund their passions,” she said.

“Our company’s mission is to democratise funding worldwide and empower people to raise money for the projects that matter to them most.

"Together with our campaigners, Indiegogo has seen thousands of ideas come to life through the generosity of everyday people who have been inspired by the campaigns on the site.”

Ringelman told ARN crowdfunding was the new incredible alternative to gain finance.

"It's not just about the money, it's about so much more," she said.

"What you will hopefully discover and learn is that it's actually more than that, it's about creating a awareness and building a community around your idea so that when you do launch it, whether it's a film product or business, or community endeavour, there's a lot of people engaged in it it's not just you flying solo."

Indiegogo is open to everyone with an idea.

It covers categories such as technology, film and education – there is no limitation on what the campaign could fund raise for.

There's no application process and campaigners have the option of a flexible or fixed funding model, meaning that you can always take home the money that you raise regardless of whether you reach your official goal amount.

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Tags NBNMalcolm TurnbullAustralian dollarindiegogocrowdfundingDanae Ringelmannco-founder and chief customer officer of Indiegogo


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