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Crowdtilt, a new group-funding site backed by startup incubator Y Combinator, has launched today to help you fund anything. The site lets you group fund any project or goal you can come up with, from trips across the country to buying a wedding gift.
“Essentially, we’ve taken our favorite elements of crowdfunding platforms and provided them for groups of friends instead” Crowdtilt chief executive and co-founder James Beshara told VentureBeat in an email.
Crowdtilt’s focus is on smaller groups of people who are pooling their money for a common goal, such as friends who want to rent a beach house. The process is what you’d expect if you’ve ever used Kickstarter, a popular crowdfunding site. The person who creates the campaign sets a “tilt” point at which the campaign will hit its funding goal and creates an expiration date. Right now the service is completely free, but that could change as the site grows.
Crowdtilt, while similar to Kickstarter, has a different setup and doesn’t cater to the same market. With Kickstarter, you are often investing a new product, company, or project and you reap some tangible benefit, be it a new gadget, a piece of art, or a screening of film. Kickstarter also has an application process to weed out certain projects. Crowdtilt lets you fund campaigns for whatever reason and at whatever amount your choose, no limits.
Group funding for charitable causes was Crowdtilt’s original purpose, but Beshara pivoted the company to what it is now. People have responded well and flocked to the site for their group funding needs. The site now has more than 3,000 users.
Crowdtilt originally started in Austin and launched a beta version of the service several months ago. The site is now available to the public and the company has moved its offices to Palo Alto, California.