Pennyseed is a crowdfunding platform where the funding goal is divided by the number of pledgers.
For example, if you want to raise $1,000 and reach 1,000 pledgers, then each pledger pays $1. However, if 2,000 people pledge, then each pledger pays only $0.50 (before fees; more below).
Campaigns require a deadline and a minimum number of pledgers; that way people know the maximum possible pledge amount (funding goal) / (minimum number of pledgers). Otherwise if you wanted to raise $1,000 and only one person pledged before the deadline, then they'd pay $1,000 (which would be ridiculous).
Payments are done via Stripe, and pledge amounts include the Stripe processing fees (2.9% + $0.30) and a 1% Pennyseed fee, so the campaigner gets exactly how much they ask for. For example, if you successfully raise $1,000 with 1,000 pledgers, each pledger won't actually pay $1, but will pay $1.35 ($1.00 + fees).
Try out the Campaign Example below to see what creating a campaign is like:
See how much your pledgers would pay for a given funding goal.
I am raising $1,000 for reason.
This campaign requires a minimum of 1,000 pledgers by .
If there are 1,000 pledgers when the deadline passes, then the campaign fails, and nothing happens.
For more information check out FAQ.