FundRazr Review

Pros

• Excellent public reputation
• Low (or no) platform fees
• Nonprofit fundraising supported
• Can keep whatever you raise OR set a goal

Cons

• Some support materials are dated
• The platform is less trafficked than major competitors

What Is FundRazr?

FundRazr is a donation-based crowdfunding platform that gives you the flexibility to offer rewards (but doesn’t require it), set your campaign goals (or take what you’ve raised), and even has a fee structure that could result in no platform fees for your campaign.

While FundRazr hosts plenty of charitable and personal crowdfunding campaigns, it also hosts business-related crowdfunding campaigns. It is Canada’s leading crowdfunding platform, but this designation places it well behind the industry’s leaders. Does this speak to FundRazr’s capabilities as a platform, or is it just a function of its lower profile?

Let’s delve into FundRazr to find our answer.

Services Offered By FundRazr

FundRazr is a platform for donation-based fundraisers.

While you aren’t required to provide incentives as you would with a rewards-based campaign, you do have the option to maximize donations with physical and digital perks, products, tickets, or wishlists that request funding for specific items. However, this is not a requirement.

Additionally, FundRazr offers crowdfunding for non-profit agencies with 501(c)3 status (or the equivalent if outside the US). You must be an Authorized Officer of a registered non-profit to raise money for a non-profit organization.

FundRazr categorizes the fundraising campaigns on its site as follows:

• Accidents & Disasters
• Alumni & Clubs
• Animals & Humane
• Arts & Creative
• Business & Entrepreneurial
• Celebrations & Weddings
• Community & Volunteer
• Education & Schools
• Faith & Missions
• Family & Kids
• Health & Illness
• Legal
• Memorials & Funerals
• Non-Profits
• Politics
• Sports & Competitions
• Travel
• Veterans & Heroes

Users can launch FundRazr campaigns from any country that can send and receive payments via the available payment processors. You can accept payment in 25 different currencies.

FundRazr Project Qualifications

Unlike Kickstarter, FundRazr does not prescreen campaigns before allowing them on the platform.

FundRazr’s rules as to who can launch a campaign and for what purpose are similar to those of most of the major crowdfunding platforms out there. You must be at least 18 years old or be between 13-17 years old and have the permission of your guardian to start a campaign. In addition, you can’t do anything fraudulent, harmful, or illegal.

There are also some additional guidelines for campaigns, including:

• Campaigns will be removed at the request of the intended recipient
• Campaigns will be reviewed and removed at the request of a legal guardian of a minor
• A letter of subordination is required to fundraise on behalf of a group, nonprofit, or charity
• All campaigns must benefit a specific targeted recipient and not a generalized group

All-in-all, these requirements are very basic. With so few restrictions, we give FundRazr five stars in this area.

FundRazr Terms & Fees

These are the terms and fees for FundRazr’s crowdfunding campaigns:

FundRazr is much more flexible in terms of how you can structure your crowdfunding campaign than some of its competitors.

FundRazr sets no limits as to how long your funding period will be, and when you’re setting up your campaign, you’re given the choice of whether you want to keep whatever you raise or launch an all-or-nothing campaign in which you only collect funds if you meet your funding goal.

Kickstarter, by contrast, limits your funding period to 60 days or less and requires that you meet your goal before collecting any funds.

As far as platform fees, FundRazr has a pretty unique fee structure. Here’s a breakdown of how it works:

• No platform fee with optional tips: You’ll simply pay processing fees of 2.9% + $.30 (processing fees may vary due to region and processor).
• 5% platform fee  + processing costs with Fee Recovery:  According to FundRazr, 85% to 95% of these costs are covered by donors.
• 1% platform fee + processing costs for donation forms: Nonprofits may qualify for reduced rates.

FundRazr uses PayPal and Stripe as payment processors.

FundRazr gets it right again — earning five stars for its flexible funding and competitive fees.

FundRazr’s Application Process

FundRazr doesn’t pre-screen campaigns before allowing them on the site, so there really isn’t any application process. You can sign up with FundRazr using your Facebook, LinkedIn, or Google accounts or just with an email address.

This process is quite simple, allowing you to name your campaign and choose your category. From there, you can select whether you want to build your campaign page from scratch or use a Quick Start template to get up and running fast.

Then, you enter additional information, including your location, goal amount, whether you want keep-it-all or all-or-nothing funding, your deadline, and currency.

Next, you’ll choose your banking location and choose between Stripe or PayPal as your processor. You can choose your pricing model (optional tips, fee recovery, and flat rate). You’ll then be able to customize your page, fill in additional details about your campaign, and launch. During this review, we did a test run and had a campaign ready to launch in less than five minutes.

Once you’re on the platform, your campaign according to the deadline you’ve set. If you have a keep-it-all campaign, funds are transferred instantly to your account. If you have an all-or-nothing campaign, you can manually cash out once you’ve met or exceeded your goal.

Overall, the process for signing up, setting up your campaign, and getting paid by FundRazr is very simple and efficient — which is why we gave it a perfect 5-star rating.

Sales & Advertising Transparency

FundRazr provides a good amount of information about services, fees, and guidelines on its website. Everything is straightforward with no gimmicks or red flags.

FundRazr has active social media profiles that are updated about once a week on average.

Overall, everything is by-the-book, earning FundRazr a score of 4.9 out of 5 stars.

FundRazr Customer Service & Technical Support

Email support and live chat are the primary forms of support offered by FundRazr.

Unfortunately, there is no phone support available, but this isn’t unusual for crowdfunders.

In addition to these points of contact, FundRazr also has video tutorials for getting set up, the Fundraiser’s Hub, a comprehensive help center, and a company blog. FundRazr has active profiles on Facebook, X/Twitter, LinkedIn, Instagram, and YouTube.

While there are a few complaints about customer support, the overall quality is good based on user reviews. Overall, we give FundRazr a score of 4.3/5, with the hope of seeing phone support available in the future.

User Reviews

Usually, this section is where we see a lot of our crowdfunders lose points. Fortunately, FundRazr is the unicorn that gets pretty glowing reviews across the board.

FundRazr receives a 4.6 out of 5 (based on 16 reviews) on GetApp, 4.2 out of 5 (based on 30+ reviews) on G2, and 3.8 out of 5 (based on 200+ reviews) on Trustpilot. Based on everything we’ve seen from past and current users, we give FundRazr our own score of 4.6/5 for user reviews.

Negative FundRazr Reviews & Complaints

One thing we’d like to note is that some of the negative reviews come from backers that mention scams or fraudulent campaigns. In terms of using the platform for fundraising, here are some user complaints:

• Campaign editing tools aren’t user-friendly
• Unable to meet fundraising goals (unfortunately, this is the nature of the crowdfunding beast)
• Less traffic than some other crowdfunding sites

Positive FundRazr Reviews & Testimonials

While there are a handful of negative reviews, there are plenty of good things users have to say about FundRazr, including:

• Excellent customer support
• Instant funding with few issues
• Fast responses to complaints
• Easy-to-use & modern UI
• Flexibility of funding (all-or-nothing or keep-it-all)

Is FundRazr Right For You?

FundRazr doesn’t necessarily have the brand recognition of other crowdfunders out there, and it’s honestly surprising, as the platform has a lot going for it.

The flexibility of choosing what funding model to use with your campaign, few restrictions, no rewards required, and an easy-to-use campaign builder that allows you to go live in just minutes all make the platform very appealing.

Add in flexible platform fees, good customer support, and an excellent public reputation, and it’s hard to see why FundRazr doesn’t get the recognition it deserves. It isn’t hard to see, however, why we gave this platform a near-perfect overall score of 4.9 out of 5 stars.

Whether your nonprofit needs to raise funds, you want to throw the wedding of your dreams, or you need help with a family medical emergency, FundRazr is certainly worth a look. While not necessarily the place to raise millions of dollars for an innovative new startup (look to equity crowdfunding for that), it’s a great way to raise funds easily and for projects close to your heart.

Our Methodology

We spend hours researching and evaluating each crowdfunding platform that we review at Merchant Maverick, placing emphasis on key characteristics to generate our product ratings.

When rating crowdfunding platforms, we use a rubric that looks at terms and fees, project qualifications, application process, sales and advertising transparency, customer service, and user reviews. We weigh each section differently to calculate the total star rating.

• Terms & Fees: 25% of the total star rating
• Project Qualifications: 25% of the total star rating
• Application Process: 25% of the total star rating
• Sales & Advertising Transparency: 10% of the total star rating
• Customer Service: 10% of the total star rating
• User Reviews: 5% of the total star rating

Each section is further broken down into granular, weighted subsections, in which we look at specific attributes, such as campaign durations, supported project types, time to funding, application processing times, and platform fees. Learn more about how we rate crowdfunding platforms.

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