Interview with Rebeca Solano, COO & Partner at Fondify
What is the story behind the creation of Fondify and what is the main mission of the platform?
Fondify was born in 2016 with a previous focus on being a crowdfunding platform with various projects to raise funds for areas such as innovation, art, and culture, etc. Among these, the projects backed by a civil society organization were mostly successful within Fondify. Based on this, we began to pivot towards defining the footprint we wanted to leave as a company and the kind of Mexico we desired for future generations. Thus, in 2017, Fondify.org was born, a platform 100% focused on digital philanthropy.
How do you select and approve projects to be included on the platform?
To start raising funds on the platform, it's important for organizations to register as NGOs. This registration goes through a "Due Diligence" process where the organization uploads certain documentation that validates its good practices and transparently showcases its impact. All organization processes and registrations undergo review by the Fondify team.
Are there specific criteria that projects must meet to be accepted?
At Fondify, we seek to provide civil society organizations with a practical, transparent, and straightforward platform. Therefore, we only focus on projects backed by foundations, IAPs (Public Benefit Civil Associations), and ACs (Civil Associations).
What kind of support do you offer project creators during and after their crowdfunding campaign?
As part of our value proposition, we engage with the organization to discuss questions like: What project do I want to raise funds for? What impact will it have? What if I don't reach the goal? Simultaneously, we start promoting the campaign through our social networks. We understand that fundraising campaigns require constant effort.
Do you offer resources, guidance, or training?
At Fondify, we have a workshop called "Fondify Academy" where we provide training, guidance, and specific crowdfunding strategies that have proven to be incredibly effective over the years.
What are some notable examples of successful campaigns on Fondify?
Ø Saul 'Canelo' Alvarez, for children with cancer.
Ø Jalisco Without Hunger; Various fundraising campaigns led by institutions and companies to support vulnerable families during COVID-19.
How does the platform contribute to the success of these campaigns?
Ø Transparency regarding why funds are being requested.
Ø Partnerships with companies committed to positive societal change.
Ø Ease of payment methods.
Ø Post-campaign evidence.
What innovations or improvements does Fondify plan to implement in the future?
One of the current issues in Mexico is that 60% of the time spent by civil society organizations is dedicated to fundraising, leaving only 40% for the incredible activities they were established for. Additionally, there's little recurring donations from individuals and companies, which is why we introduced a new fundraising model called "LOOP." Imagine a world where your best reward is knowing you're positively changing the world? In LOOP, every step we take is based on believing in that world, where good deeds generate good rewards and good rewards lead to good results, creating a perpetual virtuous circle. More information here: https://www.daleloop.com/
How do you adapt to changes in crowdfunding trends and emerging technologies?
We constantly seek new technological alternatives to streamline donation and fundraising processes, such as new fundraising models like LOOP.
How do you collect and utilize community feedback to improve the platform?
We conduct semi-annual and annual surveys of our users (donors and NGOs) to continue improving the platform. Innovation within Fondify is one of the most important pillars driving our actions.
Can you share some impactful stories of how Fondify has contributed to the success of significant charity-oriented projects?
Links to impactful stories
Rebeca, on behalf of Zoe in Yourself, we would like to extend our gratitude for sharing with our community the important work you do at Fondify and for introducing your project.
Thank you very much!
