Flashfunding – donor power in action
I’ve mentioned lendwithcare.org before.
Rather than ask people to give money to charity, lendwithcare.org gives people a chance to end poverty by funding poor entrepreneurs in developing countries.
The official launch is still a few weeks off, but even in beta stage, it seems to have caught people’s attention and we have been rather pleased by the amount of support it’s generating.
But it’s not just the numbers which are impressive, it’s also how people are getting involved.
One group of investors that I’ve mentioned before – The KindaAngels – now have their own website and have flashfunded an entrepreneur.
What’s flashfunding? The people at KindaAngels explain…
“Part of KindaAngels is the shared experience, all of us coming together to achieve something collectively – to help someone. So, taken to its extreme, I thought it might be an idea to see whether we could put together a KindaFlashMob!
KindaFlashMob is like the normal KindaAngels – but with a twisty twist! KindaFlashMob descends upon one unsuspecting entrepreneur and, in the space of a few minutes, funds their entire loan!”
It took them ten minutes to fund one entrepreneur.
What’s most exciting about this innovation is that it’s coming from the supporters – not Care International, the charity behind lendwithcare.org.
The lendwithcare.org website is simply a tool for supporters to engage with the people who need help – and it seems to be working.