What you need to know about Canadian Crowdfunding

Having covered the JOBS Act, Equity Crowdfunding and US Crowdfunding platforms, we round off our Crowdfunding Series with a high-level overview of our native crowdfunding options here in Canada.

Ontario currently (as of April 2014) holds the title for the highest number of crowdfunding platforms compared to the other provinces at 46.8%, followed by BC at 19,1% and Quebec at 17%. With the pending changes in equity crowdfunding,these numbers are poised to change.

4 CANADIAN CROWDFUNDING PLATFORMS TO WATCH

1. Fundrazr —Crowdfunding for everyoneAdvantages: Hosts any campaign type / Embeddable website widgets for self-advertising Funding Method: Reward / All or nothing / Equity (coming soon) Raised: $45M from 40,000 campaigns in 20 countries around the world Suitable for: No limitations Cost: 5% / Payment Provider fee: 2.9% + 30¢
2. Seedups Canada — Equity crowdfundingAdvantages: Free to submit a proposal Funding Method: InvestmentAverage Funding per Campaign: $250,000-$2M Suitable for: Tech startups Cost: All-or-nothing
3. Giveffect —Crowdfunding for charitiesAdvantages: All projects are linked back to Canadian charities, engages younger donors Funding Method:Donation Average Funding per Campaign: $5,000 Suitable for : Charities (gathering donations) / Corporations (employee engagement + giving donations) Cost: 6.2% / Payment processing fees: 2.9% + $0.30.
4. Fundo —Crowdfunding for artistsAdvantages: Raise funds easily and quickly Funding Method: Rewards Most Funded Project: $28,250 Suitable for: Artists and Entrepreneurs Cost: Flexible Funding 8% / Fixed Funding 4>#/li###

References:

• Which Crowdfunding Platform is Best for your Non-profit?
• Crowdfunding in a Canadian Context
• Canadian Crowdfunding Directory
• Tessa MacDougall, Fundrazr