- Target location: Global
- Platform fee: 4% of total funds raised and 4% transaction fee
- Model: Donation-based
- Operating from: New York City
- Ideal For: Small scale businesses, startups, artists, scientists, social projects, etc.
RocketHub is a global crowdfunding platform for venture capitalism, therefore, startups can use it to raise funds for their businesses. You can generate interest in your project by pitching your idea in their ELEQUITY Funding Room, which leads to getting great feedback on your project alongside additional funding.
How it works?
RocketHub enables direct-to-fan social media based outreach and fundraising. Project leaders, i.e., fundraisers, publicize campaigns themselves through Facebook, Twitter and similar platforms.
When posting a campaign, users choose a campaign deadline, target funding-goal, and offer “perks” in exchange for contributions. Broadly, RocketHub shares similarities with platforms such as Kickstarter, Sellaband and Pledgemusic however if the selected funding target is not reached by the deadline, the project leader is still able to keep the collected funds.
RocketHub charges 4% of funds collected, plus 4% payment processing fees, if the project is fully funded, and 8% plus 4% payment processing fees if the project does not reach its goal.
Business Model of RocketHub!
RocketHub gives you a Reward (or Goods) model of crowdfunding. This makes them a different sort of platform in the crowdfunding game because some funding is better than none at all, especially if you are a first-time fundraiser. In simple terms, if you raise $7500 you can keep that $7500 after you pay the fees of course.
You get to use easy and simple charts in order to assist with your campaign. These help you in many ways like selecting a sensible length of time to run your campaign, and it also gives you a good idea of how much time each day your campaign is going to require from you. For instance, if you wish to earn between $1K to $10K, the likelihood is that you will need about 40 to 200 people to reach your desired goal.
RocketHub, in this case, would suggest about a month to 45 days to run this campaign and recommend about 15 minutes to two hours each day for the campaign’s organizer to manage it effectively. It is a useful feature if you’re new to the fundraising game or just enjoy numbers.
This platform lets you keep what you raised, which is a win for the everyday entrepreneur. It is also great for small businesses and individuals who aren’t so savvy when it comes to fundraising or having connections to financiers or venture capitalists. Therefore, if they fall short of the goal they specify at the start of the campaign, they can keep whatever money they have received from donors to their campaign.
RocketHub will take all leading credit and debit cards and operates through an international merchant. Even if your donors do not have PayPal or other major payment method, the merchant at RocketHub will come through.
Another thing about RocketHub is that there is no limit to the amount of money you can raise. If you go over your goal, you get to keep all of it.
What are the Deadlines?
You can go anywhere from 30 to 75 days when it comes to getting your campaign completely funded. This is pretty good if you need that some extra time when it comes to raising awareness about a particular campaign, especially if your goal is huge-like six figures. Some of the top sites for crowdfunding offer only 60 days.
Getting your funds!
RocketHub is rather pokey when it comes to delivering funds, we think. Most Crowdfunding sites will bring you your monies in about 48 hours, sometimes immediately. However, RocketHub has you waiting anywhere for 5 to 10 days. This is much too long for urgent causes.
They keep all funds raised during a campaign in a separate US bank holdings account. Upon the end of the campaign, the funds are transferred to the fundraiser via a check or digital pay methods. RocketHub processes all payments on the first Friday that follows the completion of each project. Crowdfunding Bum transfers donation immediately via Stripe connect.
For more information: https://www.crowdfunder.com/rockethub