Two of the largest crowdfunding platforms have entered into a long term partnering agreement that looks to strengthen each platform’s core area of focus. The charitable crowd funding platform YouCaring announced it is partnering with Indiegogo, the crowd funding platform that helps entrepreneurs take their ideas to market quickly.
As part of the agreement, YouCaring becomes Indiegogo’s exclusive charitable crowdfunding partner while also acquiring Indiegogo’s personal crowdfunding service, Generosity.com. In return, Indiegogo functions as YouCaring’s entrepreneurial fundraising partner. The integration of both companies’ crowdfunding experiences begins February 1st.
“With this partnership, YouCaring is becoming the go-to platform for personal, medical, and charitable crowdfunding,” said, YouCaring CEO Dan Saper in a statement announcing the partnership. YouCaring was launched in 2011 and pioneered free online crowdfunding for personal causes providing financial, social, and emotional relief to people facing hardship.
To date YouCaring has raised over $1 billion globally for medical and charitable causes from more than ten million donors. The approximate $100 million raised by Generosity.com, originally known as Indiegogo Life when launched in 2014, can now be added to that total.
This latest acquisition by YouCaring follows on its acquisition of medical crowdfunding platform GiveForward in 2017. The latest acquisition comes at a time of rapid growth for YouCaring which is attributed to the growing need of Americans for financial support from their communities. Campaigns that raise money to cover medical expenses make up the largest and fastest-growing category of fundraisers on YouCaring.
“We’re thrilled to partner with YouCaring and we think this is a great solution for our users who are looking to fundraise for a personal cause,” said Indiegogo CEO, David Mandelbrot. “We’re proud to join forces with such a trusted brand in charitable crowdfunding, while enabling us to continue to focus on best serving the rapidly growing number of entrepreneurs that use Indiegogo to launch a business.”
