An investment banker, who explored the opportunities of crowdfunding and worked day in and day out to avail the country, a platform where you can give wings to your dreams. Nikhil Agrawal is an MBA and a qualified Chartered Accountant who along with Manish Harodia, a seasoned entrepreneur, IIM alumni, initiated with the idea of creating a reward based crowdfunding platform- www.dreamwallets.com
“Dream Wallets (DW) is an online crowd fundraising portal. We facilitate running of online campaign/s focusing on an idea/concept/product across different categories. The unique thing about DW is that it is easy to use online platform, where you put up details about your project, an appeal video and contribution options for public simultaneously backed with tangible and intangible rewards. This is possibly the best way for anyone to spread awareness about their idea or product through our social media outreach, and provide deliverables for ‘backers’. This way, Dreamwallets ensures that you get the appropriate coverage your project deserve while offering unique gifts that money can’t buy to supporters (‘backers’) who contribute to the project.” explained the founder when asked about the idea.
Nikhil adds, “With people becoming more particular about doing something of their own, funding becomes one of the primary concern while stepping ahead. Crowdfunding provides an opportunity to them to bring their ideas live with the support of the crowd. Not only has it helped to raise funds but also to build a fan-following of your own.”
Dreamwallets raised over Rs 20 lakhs through their platform in the initial few months. Projects like ‘Edges of Love’, a music album, ‘PINJRA’ movie has got successfully funded. While creative and social projects like Paper made out of Elephant poop and Life on Wings respectively, have raised more than 70% of the target amount within a shorter span of time. The portal has witnessed projects from various genres from all over the country. The platform offers both ‘fixed’ and ‘flexible’ funding model for the idea creator.
Under Flexible funding model (Keep what you raise), the platform charges 5% of the amount raised if the campaign reaches its goal amount and 9% of the amount raised if the campaign does not reach the target amount. This is to make sure that the project owners set a tenable funding goal. While the Fixed funding model (All or nothing), the fee charged is 5% of the amount raised if the project reaches the target and 0% if the campaign fails to attain the goal amount.
