Type of site | Crowdfunding |
|---|---|
| Available in | English |
| Commercial | Yes |
| Launched | July 2011 |
| Current status | Offline |
Fondomat was anonlinecrowd funding platform founded in 2011 by Joe Wakeford and Conrad Watts, originally launched inPrague,Czech Republic before relocating toLondon,England[1][2]
Fondomat was the first crowd-funding website in theCzech Republic and at the time the only one to accept transactions inCzech Koruna.[3] It subsequently relocated to England.
The company was dissolved in January 2015 with the founders moving on to run companies established using the crowdfunding methods originally employed by Fondomat.
The website handled the administration of charitable donations and the funding of individual projects, using onlinefundraising tools to promote projects viasocial networks while enabling the electronic collection ofdonations. The site supported funding inPound Sterling (£) andEuros (€).
Project owners chose a timeframe deadline and a funding target, and could add a description, videos and photos to their project page, or offer non-monetary rewards. Unlike some forums forfundraising orinvestment, the company did not claim any ownership over projects funded via its site, but took a 4% fee for fund-raising campaigns. The project owner was able to keep the funds collected whether or not the target was met by the deadline, unlike similar US siteKickstarter. The money raised was sent directly to the project owner, to protect them in case the platform collapsed.[4]
