Fondomat, located in the Czech Republic, is a crowdsourcing platform that helps fund creative, new business and charity-based endeavors. It is currently the cheapest to use on the market compared to those companies who offer similar services. There are very few restrictions for users and it is organized as a one-stop shop for crowdfunding.
Project donations are not treated as an investment vehicle, but do offer creative rewards to funders. Part of the reason is to ensure that funders are not exposed to complex tax laws in the Czech Republic and remain tax free.
The most difficult aspect of the start-up was explaining the concept as the benefits of crowdsourcing had not yet reached the Czech psyche. From the beginning, quality control features were built into the process in order to provide users with information that would help guide the project to success. The organization provides customers with full support from beginning to end in order to maximize potential. The website is available in both Czech and English.
It is already clearly apparent that crowdfunding is a far more effective method of fundraising than traditional methods. Down the road the owners hope that Fondomat crowdfunding platform becomes number one in Eastern Europe.