How Charidy Quietly Staked Out A Major Share In The Crowdfunding Space
The Brooklyn based startup is now launched a first-of-its-kind app
Press Release – Today, after helping give $600 million to good causes, crowdfunding startup Charidy announced the launch of a mobile app. The new app allows its users to donate to organizations even when they aren’t running specific campaigns, as well as allowing recurring donations, tracking personal giving and storing receipts.
The announcement of Charidy’s new application is a coming-out party of sorts for the company. Despite helping nonprofits raise over $200 million in 2018, with representatives in eleven countries, the Brooklyn-based company has mostly stayed under the radar.
Charidy’s path to success is anything but typical. Founded by Yehuda Gurwitz, an ultra-Orthodox Hasid, when he was 25, the Charidy platform had a few simple rules: all campaigns were for 24 hours; they were “all or nothing”, so a non-profit had to meet its goal or all funds were returned; and the charity had to find three donors to match every donation so they every dollar donated through the platform was automatically quadrupled.
The high-stakes, time-pressured campaigns electrified the donor-base, giving the new platform quick traction in the Orthodox Jewish community. Some charities raised their entire annual budgets in just 24 hours using Charidy campaigns.
Since opening its platform to the wider world, Chairdy has expanded rapidly. In 2018, Charidy maintained double-digit growth for four consecutive quarters. Charidy’s technology offers multichapter giving days and highly customizable fundraising platform options. The platform also switched to a more flexible model, allowing nonprofits to decide the length of the campaign and the number of matching donors.
Charidy far surpasses its competition in the size of its campaigns boasting the highest rate in the industry. Campaigns range from $100,000 raised to protect the oceans around West Papua, $3 million in 24 hours for Vision Australia to $6 million raised in a day for YU (which included a pitch from Lin-Manuel Miranda). All told, the platform has helped raise $602 million from 1,282,000 individual donations. They boast a 99% success rate – also the highest in the industry.
Сharidy’s app uniquely allows users to donate either to an ongoing campaign or to any non-profit of their choosing with a click. It also allows users to track all their donations and supported organizations, store their receipts and set up recurring giving to their favorite causes.
Away from the technology, Charidy even provides coaching and marketing services via “Charidy Academy” to help members gain the skills to run high-impact crowdfunding campaigns.
Moshe Hecht, the CIO of Charidy, says the new app addresses the company’s dual goals. “We have two customer audiences: The 10 million nonprofits of the world and the billions of givers. We see both of them as critical components to our success. We are not just building tech for nonprofits; we are creating a social, motivational and streamlined way for people to give.”
Charidy is a team of 60 with offices and representatives in New York, Miami LA, Atlanta, Washington DC, Toronto, London, Moscow, Paris, Buenos Aires, Johannesburg, Dubai, Tel Aviv, Rio De Janeiro, Melbourne and Sydney.
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