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Crowdfunding gaining on popularity in Poland

14th January 2014
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Online public financial aid for projects, known as crowdfunding, is still rather a rather small (and therefore relatively expensive) segment in Poland. Nonetheless, the phenomenon is increasing in popularity, Dziennik Gazeta Prawna reported.
The portal, founded only 9 months ago, has already managed to raise PLN 200,000 which allowed for the completion of 24 projects. The service charges 8.5 percent of the raised sum (providing that the project is a success).
“Most global portals have a business model based on commissions charged from successful products. This solution requires a high volume and a relatively high percentage of successful projects,” Karol Król, publisher of the service.
The largest Polish crowdfunding website, (founded in 2011), charges a commission of 7.4 percent of the raised sum. The portal managed to raise PLN 1.7 million.
Moreover, there is an increase in specialized crowdfunding portals, such as which supports projects related to arts and culture with a commission of 11 percent.
Another interesting example is, which deals exclusively in music and allows users to “invest” money in music projects they believe will be successful. Once they are, artists share a part of their proceeds with the investors. The portal has helped raise PLN 1.6 million to date and finance 105 projects.
The portal does not charge any commission from the raised funds. Instead, it is supported by advertising and promotional campaigns. 

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