NYC based startup, Spotfund, encourages users to donate small amounts of money to causes they believe.
Springwise has seen some interesting innovations designed to support charitable donations. This company allows users to donate a percentage of their high street spending. And this startup which, harnessing the power of social media, enables anyone to donate to charity through a tweet, meaning givers share the fact that they’ve donated and encourage others to do the same. Streamlining the process of giving, and sharing about that giving, is Spotfund.
Spotfund is a micro-donation app. It allows the general public to be philanthropic, supporting causes they believe in with donations of between USD 1 – 3. The platform features a newsfeed about issues in animal welfare, the environment, and human health and services. It currently features 360 vetted nonprofits. Users tap a virtual token to contribute the amount of their choice and can then share their giving on Facebook or Twitter. Cofounders Mike Marian and Sanford Kunkel describe their goal with Spotfund to create a way of giving that is simple, immediate, fun and has viral potential: “It’s not about the size of your wallet, it’s about the power of your social network.” The idea is to use social networks to multiply the impact of each donation.
The service functions through so-called ‘Spottags’, search-based shortcuts that work in the same way as hashtags but using asterisks, which create a quick signal for where and how to donate. So for example, *TragedyInOrlando provides details about the mass shooting at Pulse in Orlando, Florida. Spotfund also encourages competitive donations, giving each user an “Impact Score” which can be upped by either making a donation or getting others to donate because of a story shared.
The business currently collects 5 percent of all donations but aims to offer a free service that works on a sponsorship model. How else could microdonations be used for social good?