Overview

Fundly (fundly.com) is an online crowdfunding service targeted at nonprofit organizations. Similar in structure to Kickstarter or Indiegogo, Fundly offers nonprofits the ability to create an online profile and solicit donations directly from a community of donors. Fundly utilizes Stripe and WePay as its payment processors, meaning that users will have to sign up for a merchant account through one of these two companies in order to use Fundly. Fundly was founded in and maintains its headquarters at 379 Lytton Ave, Palo Alto, California 94301. Dennis Hu is the CEO of Fundly.

Fundly Products and Services

  • Debit and credit card processing
  • Custom online profile
  • Social media integration
  • Fundraiser support tools
  • Mobile-optimized donation page

Industries

  • Non-profits
  • Religious organizations
  • Military
  • Politics
  • Clubs
  • Schools
a

Sales & Marketing

Key Points - Sales & Marketing

Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms Yes

Fundly appears to market itself primarily through online advertising and through referrals amongst its users. The company’s payment processing service is built into its online profiles, which eliminates the need for Fundly to employ independent sales agents. As a result, there are no Fundly complaints that describe unethical conduct by Fundly’s sales team. As an additional point in the company’s favor, it does not appear to list any deceptive rate quotes on its website. We have therefore awarded it an “A” at this time.

Fundly Marketing Example

b

Costs & Contract

Key Points - Costs & Contract

Swiped Rate 3%
Keyed-in Rate 3%
Early Termination Fee None
PCI Compliance Fee None
Equipment Lease Terms None

Fundly’s pricing structure charges a percentage of each transaction depending on how much money a campaign has received. The service’s flat per-transaction fee is 3% for all transactions, and this amount does not change regardless of how much money has been raised. Fundly’s platform fee, however, begins at 4.9% per donation and decreases to 4.4% after $50,000 raised, 3.9% after $500,000, and 2.9% after $1,000,000. This means that a user’s effective rate for using Fundly will vary from 7.9% to 5.9%.

This rate is far above the per-transaction fees of other payment processors and donor management systems, but it’s important to consider that Fundly charges no other fees. In other words, there are no monthly minimum fees, PCI compliance fees, early termination fees, or long-term equipment leases to contend with. For nonprofits of all sizes, this flat, predictable percentage of each transaction might be appealing. In fact, there are currently no public complaints filed regarding Fundly’s contract terms, indicating that most users are satisfied with the company’s pricing. After weighing the service’s exceptionally high transaction fees against its low-commitment model, we have arrived at a grade of “B” for this category.

a

Complaints & Service

Key Points - Complaints & Service

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

There aren’t any negative Fundly reviews on the usual consumer protection forums, and there is no indication that the service rips off its users. In fact, reviews of Fundly are generally positive, as nonprofit organizations praise its robust functionality and ease of use. The consensus among reviewers appears to be that Fundly is a useful tool for nonprofits of all sizes, and there is very little risk associated with using it as a primary or secondary fundraising platform.

Fundly offers customer support through a knowledge base, email, and phone number. Reviewers do not cite issues with any of these channels.

a

BBB

Key Points - BBB

Product & Service Complaints 1
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Fundly currently has an “A+” rating with the Better Business Bureau and has not received BBB accreditation. The company has received one complaint in the past three years, which was filed as a product or service issue. According to the complaint details, the NPO’s funds were held during Fundly’s 2012 switch to WePay as its backend processor. Fundly eventually tracked down the funds and transferred them to the organization. Due to the specificity of the issue and the fact that it was resolved successfully by Fundly, we agree with the BBB’s rating of “A+.”

Fundly Logo

Fundly Bottom Line

Fundly rates as a low-risk, user-friendly fundraising tool for nonprofits according to all third-party sources. The service’s per-transaction costs are higher than those promoted by its competitors, but they come without additional monthly fees or long-term contracts. As a result, Fundly is a solid option for nonprofit organizations that would like to give online or social fundraising a try without committing any upfront resources to the initiative.

Hi, I’m Phillip and I’m disgusted by the state of credit card processing in the U.S. and abroad. I believe that the industry has been overrun by people who engage in fraud and deception in order to steal money from hard working business owners. I’ve made it my mission to expose the companies and individuals who engage in predatory marketing, pricing, and contracts, or just provide terrible service. Along with uncovering the bad guys, I’ve also discovered the good guys who do stand out from the status quo. CPO is a website where you will find ratings and reviews of these companies along with advice on how to save money and which service providers consider. Together we can move the industry in a positive direction. If you would like to help support my work, please checkout “Fee Sweep” my eGuide to getting the lowest possible fees when accepting card payments. If you haven’t heard of “interchange” this advice will save you hundreds, even thousands, in processing fees.

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