Page 139 - Social Enterprise A New Business Paradigm for Thailand

2. Crowdfunding
Crowdfunding refers to the collective financing of a project or venture by a large number of

individuals, typically drawn from extended networks of friends, family, customers, and individual
investors. This process usually takes place through online platforms, which serve as the primary
channels for raising funds. Crowdfunding campaigns can support a broad range of initiatives,
including creative projects, business startups, charitable causes, and even personal expenses. As
noted in Section 4.2.1, crowdfunding can be classified into four main types. The following are
examples of organizations actively engaged in crowdfunding efforts.

Give.Asia
Give.Asia is an online platform dedicated to fundraising for public benefit, personal needs, and

charitable projects across Asia. It was founded in 2009 by Ashmi, Zheng Jie, and Qixian Lim
with the goal of creating a platform that enables individuals and organizations to raise funds
for a wide range of public-interest causes. These include medical emergencies, disaster relief,
education, and community-based projects. Notably, Give.Asia does not charge any platform
fees, ensuring that donations, after payment processing fees, are transferred in full to the
intended campaigns.

At the same time, donors can access detailed information about each campaign, including the
backstory, fundraising goals, and ongoing updates. A notable example of a highly successful

campaign was a fundraiser for a critically ill child in need of surgery. The campaign creator
shared the child’s story, medical details, necessary treatments, and funding objectives.
Supporters could donate directly through the platform and amplify the campaign by sharing it
within their networks to help reach its goal. This demonstrates Give.Asia’s significant role in
supporting social initiatives and empowering individuals and communities across Asia to
generate positive impact. The platform is designed to be user-friendly and transparent, making
the fundraising process accessible and trustworthy.

Kiva

Matt Flannery, CEO and co-founder of Kiva, has described the organization as “the world’s first
person-to-person micro-lending website.” Alongside Jessica Jackley, Flannery, then a young
Stanford graduate, was inspired by a 2003 lecture by Muhammad Yunus at Stanford University.
This encounter led them to establish Kiva in 2005 as a social enterprise aimed at connecting
lenders in developed countries with impoverished borrowers in the developing world through
an online platform.

Kiva operates as a nonprofit organization, and lenders do not receive interest on the loans they

provide. The platform follows a global micro-investing model, allowing individuals worldwide
to choose and fund specific borrowers directly. Beyond individual contributions, Kiva also
receives in-kind and infrastructural support from partner organizations such as PayPal, which

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