Social Crowdfunding: GoFundMe To Apply 0% Fee in UK

In the midst of a mounting debate on how crowdfunding platforms operate with regard to social fundraising campaigns, platform GoFundMe announced it introduces a 0% platform fee in the UK in contrast with its two main British competitors, JustGiving and Crowdfunder.

The announcement was made on the first anniversary of the UK operations and followed a similar one made last December in Canada.

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Rob Solomon (pictured above) is the CEO of GoFundMe. Launched in 2010, GoFundMe is the world’s largest social fundraising platform, with over $5 billion raised so far and a community of more than 50 million donors.  (Source: YouTube)

GoFundMe’s CEO, Rob Solomon, said:

We’ve been amazed by the generosity of people in the UK since we launched here. We want to mark that anniversary by giving GoFundMe organisers in the UK the chance to raise even more money for the causes they love without a platform fee.  We’re looking forward to seeing more people giving and getting the help they need.

One of the interesting aspects of the story is to see how their business model will evolve as well as how competitors will react as to have a flavour of where the sector is heading to.