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Milaap expands network

Image result for Milaap.orgBengaluru-based online crowdfunding platform Milaap.org is looking at creating better awareness among individuals and organisations in smaller towns on crowdfunding.

According to Anoj Viswanathan, who started Milaap with co-founder Mayukh Choudhury in 2010, the platform is used largely for sourcing funds for healthcare needs, education, and community development projects.

In the last seven-and-a-half years, nearly Rs. 220 crore has been raised for one lakh projects. The amount raised ranges between Rs. 10,000 and Rs. 1.8 crore. However, the average is Rs. 2 lakh to Rs. 10 lakh. Almost 90 % of the funds raised are by individuals. However, there are organisations too that use this platform, he said. It take two to three weeks to get the funds. Milaap has offices in Singapore and the US, too, as many contribute from these countries.

“We do a lot of partnerships for both, our backend verification and also for organisations to raise funds for those in need,” he said. For instance, there are tie-ups with hospitals to verify cases for which funds are raised.

There are several NGOs that raise funds to support rural entrepreneurs. About 35,000 such projects have been supported, including those in Namakkal, Karur, Trichy, and Pudukottai, he added.

In Coimbatore region, Milaap has about 10 partnerships, including those with NGOs, animal shelters, and hospitals.


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