Crowdfunding platforms have been a cornerstone of businesses, providing opportunities for not just small startups, or individuals, but even big players from various industries to raise significant funds. Even though new crowdfunding platforms are constantly popping up and are helping entrepreneurs raise million dollar funds for their businesses, there are some pain points associated with them, which makes the whole process onerous.
As we all know, blockchain technology is continuing to disrupt major industries and is being adopted by several organizations all around the world. One of the important sectors where blockchain plays a key role is the crowdfunding sector. Blockchain crowdfunding platforms, especially a white label crowdfunding platform brings in potential solutions to the pain points involved with a traditional crowdfunding platform. Here, in this blog, we are going to get to know all about a white label crowdfunding platform and its benefits and potential for your business. Let’s begin with understanding the pain points with traditional crowdfunding and how blockchain eliminates them, or enhances the crowdfunding sector on the whole.
Pain points involved with traditional crowdfunding and how blockchain helps tackle them?
- Third-party Control
One of the major and most common pain points for startups and entrepreneurs involved with the traditional crowdfunding platforms is that the requisite source of capital is controlled and monitored by third parties; a group of individuals or institutions. On the other hand, a blockchain crowdfunding platform functions based on a decentralized, distributed digital ledger that stores and shares information across the network for all the involved parties. This makes it efficient for entrepreneurs to have control over the platform, when compared to a traditional crowdfunding platform where due to the potential lack of access to capital for entrepreneurs and small businesses, the cost of raising capital and starting a new enterprise can be restraining.
- Control of Information
Another major pain point with a traditional crowdfunding platform is that the external financiers have access to information more than the project owners or founders themselves. This might lead to lack of protection of information, and the project owners losing control of their own project. But with a blockchain network, the information is completely protected end-to-end and the automation and decentralized mechanism helps the project owners retain the authority and decision-making power and mainly protect them from capital providers.
When it comes to traditional crowdfunding, there are three common methods such as self funding, venture capital funding or funding via banks. Self funding is extremely limited, and funding via banks is not as easy unless the business is an already established one with guaranteed cash flows and revenue. Likewise, venture capital is not possible unless the project has already earned a mass market appeal.
A blockchain crowdfunding platform eliminates these hurdles by enabling more transparency, safety and trust between creators and backers. Also, it eliminates the limitations, and provides wider access to businesses of any size to raise funds efficiently and effectively to increase the potential of their business. Mainly a white label crowdfunding software provides numerous benefits for businesses. What are they? Let’s find out.
Benefits of a white label crowdfunding software
- Custom-made software at a cost-effective price
A White label crowdfunding software is custom-made by experts to fit your individual business needs. You don’t have to worry about possessing technical expertise in the case of a white label software as it is readily available, and it saves you a lot of time, and money incurred for the development of the software.
- Reducing risk factors
A White label crowdfunding is usually developed by experienced and skilled professionals, and they are also completely tested before going live. Therefore, they ensure enhanced reliability, and bug-free operations.
- Going Live in no time
As white label crowdfunding platforms are ready- made with every necessary features and functionalities integrated, it sets you up for launch right away and allows you to get started with your fundraising process quickly and efficiently.
- Freedom of Customization
With a white label crowdfunding software, you get a wide-range of customizable options, and the flexibility to add any features or solutions that fit your business model.
How to choose a white label crowdfunding platform for your business?
From the wide-range of options available in the market, to choose the best white label crowdfunding platform for your business, here are the factors you need to look into,
The first and foremost step is to figure out which fundraising model will fit your business and who are your target audience. There are different types of white label crowdfunding platforms such as, White label donation crowdfunding platform
- White label reward crowdfunding platform
- White label equity crowdfunding platform
- White label Tokenization platform
- White label p2p lending platform
- You should ensure the white label crowdfunding platform you acquire supports multiple languages for capturing a broader audience. Also, a set of core functionalities is very important, therefore analyze the competitors and choose the right one that offers everything you need.
- The platform should support multiple payment gateways
- The platform should be crafted with priority to reliability and security
- Analyze the pricing plan of the software, whether it is monthly or yearly, and the additional services offered.
- Analyze the previous reviews about the software provider, reputation, and if any tools integration is outsourced.
- Analyze what sort of maintenance support is offered by the software provider
- Analyze the experience and skills of their developers, programmers, and if they offer comprehensive solutions from development, to installation, configuration and deployment.
- Verify if they offer extended support for the website and marketing of the platform.
- Check if the platform offers wider customization scope.
At Infinite Block Tech, we have some of the most experienced and knowledgeable developers, programmers, strategists, market analysts and industry experts who have the ability to offer all the above mentioned types of white label crowdfunding platforms at the best price in the industry. Our platform ticks all the above mentioned criteria and ensures your crowdfunding business is a sure-fire, and brings in enormous potential and capital. We will help you with a quick, efficient launch, and bring your business dreams to life in the best possible way. Talk to our team of experts to find out more about our solutions.