Indiegogo, the US-based crowdfinding platform, just announced the introduction of euro-based transactions, and French and German translations of its website. The news is a sign Indiegogo, among the leading crowdfunding platforms in the world, is taking steps to support its expansion in new markets – two months after rival Kickstarter’s official launch in the UK.
Indiegogo, which first went live in 2008, will now accept US dollars, euros, Canadian dollars and pounds. This reflects activity on the crowdfunding platform, which now sees 30 per cent of all activity on site taking place overseas. While the introduction of funding in euros is new, Indiegogo has already been used in Germany for some years.
What Indiegogo’s up to in Germany
Founder Danae Ringelmann told VentureVillage earlier this year that Indiegogo purposefully launched globally, rather than limiting funding to projects in individual markets. Currently, Germany has the largest number of projects on Indiegogo of any non-English speaking market.
Indiegogo has also lined up some powerful connections in the German entrepreneurial scene. In August the platform announced a partnership with Google and Stiftung Entrepreneurship to work together on the Gründer-Garage initiative. The competition promotes German entrepreneurs to establish innovation and financing in the internet scene. However, the platform faces tough competition in Germany, which is home to a number of other crowdfunding sites including Seedmatch, Innovestment, Mashup Finance and Berlin Crowd.
What about Kickstarter?
One major rival still to announce plans of a German expansion is well-established US funding platform Kickstarter. The platform, which hosts creative projects, launched in the UK last October. Potentially slowing down its growth is Kickstarter’s initial focus on US markets and the requirement that all projects on the platform be approved prior to being hosted, a means to combat fraud. Watch this space though, as a German or French launch would fit with the platform’s current expansion.
The news from Indiegogo is further proof that the crowdfunding market in Germany is only heading one way – up.
For related posts, check out
Indiegogo’s Danae Ringelmann in Berlin – crowdfunding, building “a goddamn Tesla museum” and what to do with $15 million
Crowdfunding a startup: now open for investors (but not on Kickstarter)
The who’s who of crowdfunding in Germany