Razoo looks like a newcomer to the game of crowdfunding, but would you believe that it’s been around since 2006? The cute elephant logo and slightly humorous name might make you think it’s a new startup, but this is not so. This platform is no laughing matter and has been around since the early days of crowdfunding. 

It definitely does not have the same level of name recognition as GoFundMe or Kickstarter, but it has definitely made a dent in the world of crowdfunding, bringing in over $550 million so far. This definitely shows the platform is one to be reckoned with. 

This platform focuses on any and all reasons for crowdfunding. It will allow for business crowdfunding, personal needs campaigning, and even fundraising for non-profit charity efforts. The platform is really flexible and caters to just about everybody. CrowdfundingBum is like this too-they have everything from business to fashion to startups and even “uncategorized”. 

Services They Offer

Razoo offers four different varieties of fundraising pages, and the most common is the Personal Pages, which let you raise funds for any personal reason you can think of from funding medical expenses to starting a business to anything else. The second page is the Charitable Fundraiser page, in which groups of individuals can raise money for nonprofits, and then Team Fundraising pages permit groups of people to raise funds for nonprofit orgs. 

The last page is the Nonprofit Page, which is where you would go if you are a 501c (3) nonprofit. Since many of you are likely here because you seek to start a business, we will mostly examine the personal pages inside this review. 

Setting Your Campaign Up

You will choose from any number of categories when you start your campaign; there are categories from animals to children and family to humanitarian aid to volunteer and wishes.  You will find that this platform isn’t very restriction-heavy. Even minors aged 13 and up can start their own campaign to raise funds, so long as they have permission from their parent or guardian. 

Any cause is pretty much okay when it comes to using the Razoo platform. It does have some stuff that is prohibited, but it is just what you’d expect-nothing obscene or law-breaking, no selling of goods and services, no gambling or lotteries. The list of stuff you cannot have on your page is even shorter than other crowdfunding sources like Kickstarter. 

Fees You Pay

The fees you will encounter as of the time of this writing include 0% when it comes to personal fundraising, 2.9% plus 30 cents per transaction for Payment Processing Fee, and 4% for the Razoo certified charity fundraising. 

Razoo recently got rid of their platform fee, which was 5%. CrowdfundingBum never had a platform fee, which is definitely good news for all. On Razoo, you will only be responsible for the payment processing fee on whatever monies you raise. 

On nonprofit campaigns, you will be charged a 4% platform fee, but this will be waived if you choose to get a subscription to a nonprofit premium subscription plan. These begin at $99 monthly, and you also get access to branding, analytics, and a donor/volunteer management area. 

There is also no limit to the fundraising period, and flexibility is always nice. CrowdfundingBum lets you set a custom time limit. Your campaign with Razoo can be as short or long as you would like. 

One thing we also noticed is that on other crowdfunding platforms you can set up rewards, perks or otherwise incentives for your donors. Razoo does not do this, which is fine, but seems a bit counterproductive. After all, getting something in exchange for your gift, even if it is a free or low-cost item, is often welcomed and appreciated. 

How to Apply

Sound good so far? The funding campaigns are NOT pre-screened before being allowed onto the site, so you can set up an account and launch your own campaign immediately once you get inspired to do so. This is great, especially if you are on a time crunch and need to raise funds fast. 

The terms of service are pretty easy to understand, too. There really isn’t anything crazy or shady on the site, which we can appreciate in a crowdfunding company. CrowdfundingBum also offers a transparent and easy to read FAQ page and also terms of service. 

Messages are answered between 9 to 5 each day, and there is a phone number you can call too, albeit a little hard to find. Other campaigns like Kickstarter do not offer any phone numbers on their page. Razoo does have a support forum where others answer and ask questions that likely will help you out. 

So, What Are the Pros and Cons?

Let’s sum it up here before we get to the bottom line: 

The Good:

  • You can keep whatever you make (CrowdfundingBum does this, too)
  • No platform fee; was recently eliminated
  • Customer support is pretty good
  • Has been around a while since 2006

The Not So Good:

  • Not a lot of communication between the backers and the campaign managers
  • There are no methods offering a reward on platform for the backers
  • It is not as popular as major platforms like Kickstarter or Indiegogo

Our Bottom Line

If you’re in the USA and want to raise funds on the crowdfunding site Razoo, this is a good place to start. There are no limits to what you can raise. The policies are flexible and lenient. You don’t pay a platform fee. You don’t need to get somebody else’s approval to start the project you have in mind. That’s very likable. 

Yet, we do not think this is the greatest first choice for those who want to get into business related ventures. Sure, this has raised over a half billion dollars in its 11 years. This is not some little pocket money amount, but keep in mind that Kickstarter has raised $3 billion.

And, it’s been around for a shorter period of time than Razoo. Therefore, it just goes to show you that you really must consider some other great options like CrowdfundingBum or other platform before you dive into raising funds. 

Final thoughts.

Before you go running off to Razoo, we hope you stick around a while to find out more about all that Crowdfunding Bum has to offer. You will find ample reasons to choose us as your funding source.

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