Crowdtilt announced yesterday that it has unveiled a new open source, white label solution for companies entering the crowdfunding space. Their intention is to allow brands or people with a strong personal network, an opportunity to raise funds without being constrained to platforms like Kickstarter or Indiegogo.
“CrowdtiltOpen was built with a clear purpose in mind: to allow project creators to host their own crowdfunding campaigns on their own websites,” said James Beshara, CEO of Crowdtilt.
Back in early January, we wrote about Indiegogo launching a similar solution called Indiegogo Outpost. However, I spoke with reps at Crowdtilt who informed me the main difference between CrowdtiltOpen and Indiegogo Outpost was the their solution was a true white label solution.
Indiegogo Outpost will only allow you to embed your project on your own website, but it still will fall under the Indiegogo brand. CrowdtiltOpen will be completely out of the way, where the parent brand may keep total control of the funding experience. There will be no sign of CrowdtiltOpen anywhere.
CrowdtiltOpen will be releasing new features under the their white label solution which has not yet been seen in crowdfunding. There will be no restrictions on campaign type, time duration or fundraising amount. You will also be able to integrate analytics solution like Google Analytics, Ad Roll, or Optimizely.
Two of the features I am most impressed with are Bitcoin integration and the ability for non-profits to set up their own campaigns. Bitcoin integration is important for the advancement of exchanging between Bitcoin between two parties. Bitcoin is right up there with crowdfunding as a new way to exchange or create wealth.
The second impressive feature is the ability to have allow nonprofits to accept donations to a crowdfunding campaign with the ability to give backers a tax deductible receipts if you are a registered nonprofit.
CrowdtiltOpen will not charge any setup fees, however they will take 2 .9% of the total funds raised, while platforms such as Indiegogo and Kickstarter are between 6%-10%.
Since being extensively beta tested for the second half of 2013, CrowdtiltOpen has been used in some of the top independent crowdfunding campaigns. Soylent, a nutrition substitute that raised over $2.1M, GNS3, a software company that raised over $300,000, and Immunity Project, the largest health crowdfunding campaign that raised over $450,000.
With CrowdtiltOpen, Indiegogo Outpost, and platforms like Launcht, is white label solutions the new trend in crowdfunding? It seems to only be fitting for your business if you’re a large brand with a strong following already. Anyone thinking they have a strong personal network with 1,000 twitter followers should stick to the reward based platforms like Kickstarter and Indiegogo.
Thinking of using CrowdtiltOpen for your business? Make sure to reach out to us here at CrowdDistrict, we’d love to cover your experience.
For more information or to open your business to crowdfunding, please visit: open.crowdtilt.com.