Group fundraising website for anyone with a Paypal account
Founded: 2004
Status: Commercial
Processing Fee: 7% for Fundable plus 2.9% + $0.30 for PayPal transaction fees
Website: http://www.fundable.org
In their words:
Fundable.com lets groups of people pool funds to make purchases or raise money.
Similar to online auctions, Fundable's pages are created by people who use this site. Each project has a description of how much money needs to be collected and what it will do. Once enough pledges (not payments) have been collected, Fundable turns them into real payments and sends the total to the project's organizer.
No one takes a risk when making a pledge: if a collection expires before reaching its total in pledges, Fundable deletes all pledges and never charges money. This lets you participate in a group purchase or fundraiser without worrying about what other people will do. No one pays until and unless everyone else makes a pledge.
