Startups call on crowdfunding to survive the pandemic

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In addition to being a global health problem, the coronavirus pandemic has challenged businesses around the world. According to Business Insider, several startups and small businesses have appealed to crowdfunding or crowdfunding to keep their doors open in times of crisis, moving platforms with GoFundMe.

The crowdfunding site saw such a huge growth in the number of businesses asking for help that it created a specific page for users to find nearby businesses to help with financial collaborations. The profile of the businesses that adopted the solution includes everything from companies that were in the process of raising funds to firms that operate in sectors that are extremely affected by COVID-19.

The businesswoman Valeria Vitrano is responsible for the startup CityXcape, which is based in Italy and seeks to offer unique travel experiences. With the social isolation caused by the pandemic and the country becoming one of the main victims of the disease, the business is going through “difficult times”. To try to get back on track, the owner of the app plans to raise up to 20,000 euros on GoFundMe, but only managed 785 euros during three months of the campaign. “No one else is visiting Sicily,” explains the owner of the business. “Each donation helps and can really make a difference”.

Another company that decided to try its luck on GoFundMe is FrogPlum, which intends to raise US $ 50 thousand to continue operating in the marketing market. The platform ended up running out of cash during the pandemic and had to make massive layoffs, in addition to leaving employees without payments during the time of crisis.

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