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Synopsis
The success of campaigns related to COVID causes launched by top Indian crowdfunding platforms proves their acceptance among the masses and the role they can play in fighting calamities
ET Spotlight
Ketto, an Indian crowdfunding platform, raised over Rs 115 crore through its campaigns related to Covid-19 and registered a 4X growth during the lockdown. ImpactGruru, another such platform, saw donations double per minute post COVID averaging 2.5 donations per minute now. Faircent, a P2P lending platform, disbursed loans worth Rs 1,150 crore between April 2020 and March 2021.
Those are impressive numbers. The success of these crowdfunding platforms proves that calamities indeed bring humans together. And, that the pandemic was no different. In fact, the PM Cares Fund, set up by the Prime Minister of India to channelise philanthropic contributions towards the fight against corona, also used the crowdfunding mechanism. It also proves that such platforms, if used in the right