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Group Financial Management Tool

Published 05/20/2011 and rated Ratingstars4 4 out of 5 stars
by AppAppeal Editor
What can you use the app for?

Friendfund helps users fund projects through their social circles. The user can create a new Friendfund project. This can be anything from purchasing equipment for a local club to organizing a group outing or some other collective event. The user sets an amount they need to complete the project then invites friends to help out. Friendfund actually recommends that the user select fewer friends rather than more. The idea is that if less people are working towards the goal, they will be more inclined to take action rather than procrastinate and assume that their fellow participants will take care of things. Those who donate to the project can add funds through Paypal or with Visa, American Express or MasterCard. Users can see how much has been obtained towards the project’s goal, how much time is left and what the goal includes for each new Friendfund project.

Friendfund screenshot
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What is the history and popularity of the app?

Friendfund was founded in June of 2010 by Harry McCarney and Martin Peschke. The application was created to offer users a fun way to obtain funding for a project by utilizing their circle of friends. Friendfund is based out of Berlin, Germany. The current team includes CEO McCarney, CTO Peschke and Advisor Jeff Coe.

What are the differences to other apps?

Friendfund takes elements of other crowdsourcing websites and uses them in a new way. Users are encouraged to get a team of friends together to help raise funds to complete a project. The site welcomes just about any project, whether it is a special group trip or something to benefit an organization or cause. Friendfund has created an engaging way to get friends involved in a fundraising project.

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How does the web app look and feel to use?

The Friendfund website greets visitors with a dark teal header and sleek lettering that features rounded lettering and a hint of red. Three navigation links are available in the header while just below, users can find the get started form. The bottom of the Friedfund homepage highlights a handful of featured projects to help users see what is currently available.

How does the registration process work?

A new user can sign up for a Friendfund account by clicking the white “Sign Up” link in the upper, right hand corner of the homepage (in the teal header). The following page contains the Friendfund registration form. The top of the form offers the user access to two buttons to sign up through a Facebook or Twitter account. The bottom of the page presents the user with the actual form. The form asks for a name, email address and password. A small, grey note at the bottom of the form advises the user that by submitting their information they are automatically agreeing to the Friendfund terms and conditions.

What does it cost to use the application?

There are no transaction fees for contributors - these are covered by the friendfund creator (3% fee when receiving funds through PayPal) and by affiliate commissions (when receiving funds through Merchant Partners: amazon, shoperella etc). The user does not have to pay a subscription fee or other charge to maintain an account.

Who would you recommend the application to?

Friendfund provides anyone who has a project to fundraise for with a platform to do it. Users can meet their goals with friends, making the task more engaging. The site accepts all kinds of goals so many different projects can work with Friendfund.

  • List a new project on Friendfund
  • Invite friends to help them fundraise
  • View progress on the project page
  • Accept credit card and Paypal payments
  • Share more information about a project

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