What is YoungFundr?
YoungFundr is a reward based crowdfunding platform designed for young people. YoungFundr was set up because there are so many barriers in society preventing young people to go out and make their dreams a reality, therefore through YoungFundr we aim to reduce the barriers and create opportunity.
How does the crowdfunding platform work?
What does reward based crowdfunding mean?
A reward crowdfunding platform is one that pledgers receive a reward for contributing to the campaign. The rewards provided are in the control of the campaign owner and YoungFundr does not partake in what is offered as rewards. However, a reward cannot be in the form of monetary benefits, share in the business, share in profits etc. Please see our terms and conditions to get an idea of what can and cannot be offered as a reward.
What is the age restrictions of the YoungFundr website?
As we want to appeal to the young audience, we have an age restriction of 18-35. If you are not within this age bracket but want to come onto the site, then please send us an email via firstname.lastname@example.org
What are the fees of using the YoungFundr website?
YoungFundr charges a flat fee of 4.5%. There is also an additional transaction fee of 3.4% + 20p charged to the campaign owner by PayPal. This transaction fee is not part of the YoungFundr fee. The total fee if the campaign meets its financial target is 7.9% + 20p.
How do I edit my account information?
To edit your account, log in to your account and click on the ‘my account’ button at the top right of the page. You will be redirected to your profile where you can then edit the necessary information.
Can I launch a campaign if I am not from the UK?
The site is currently only available for those looking to launch a campaign in the UK.
What are the rules of the YoungFundr site?
What happens if I do not reach my target amount?
The YoungFundr website is an ‘all or nothing’ site, which means that you will not receive any money if you do not reach your target.
What does ‘all or nothing’ mean?
An all or nothing crowdfunding means that if you do not reach your target amount, then nothing will be collected from the project contributors. This crowdfunding style can be beneficial to the campaign owner as it will allow you to be more focussed to achieve your target amount, by working to drive more traffic to your campaign. This crowdfunding style is also beneficial as it is a lot safer for everyone involved. This is because if you need £10,000 but only raise £2000 you cannot do everything you initially proposed with the £10,000.
Will I be able to reach my target amount?
The more preparation and planning you do before launching a campaign may put you on the right path. A good rule to follow is, if you need to raise £10,000 and have an average pledge of £50, this means you will need 200 people pledging.
Why can I not edit my campaign once sent to YoungFundr to approve?
We do not support campaigns being edited after sending it to the YoungFundr team. Therefore, you will need to make sure all your campaign content is accurate before sending over the campaign to YoungFundr for approval. Just to let you know, you can provide updates on your campaign but you just cannot edit it once sent to YoungFundr.
Can I launch a campaign if we are not from the UK?
The site is currently only available for those looking to launch a campaign in the UK. However, project backers do not only have to be from the UK.
What happens if I pledged to contribute to a campaign that didn’t reach its target?
Do not worry, the YoungFundr website only takes money out of the backers PayPal accounts once the target amount has been reached. If the target amount has not been reached, then nothing will be taken.
I contributed to a successful campaign but have still not received my reward what do I do?
Unfortunately, YoungFundr is a platform connecting two parties: the campaign owner and contributors. We do not get involved with any campaigns, therefore YoungFundr cannot do anything. However, we suggest you contact the campaign owner as it is their responsibility to make sure rewards are sent out.
Do I need to be young to back a project?
No, you can be any age to back a project!
I am not from the UK, can I back a project?
Of course! You do not have to be from the UK to back a project.
I am having problems with PayPal what do I do?
We suggest contacting PayPal and allow them to resolve the issues with your PayPal account.
What is the maximum value of a reward?
In line with our Payment processors terms and conditions, the value of a reward cannot exceed $100.
What is the maximum time a project can be live?
The maximum time a project can be live is 90 days.