Leetchi is a website that allows for group funding, crowdfunding, and money transfers over the internet. The story of Antoine Foulu-Mion, a 44-year-old organic farmer who received nearly 79,000 euros in donations from over 2,700 people in just two days, showcases the power of online fundraising. Facing financial difficulties due to the crisis in organic products, he was able to pay off his debts thanks to the generosity of strangers through his online fundraising campaign.
This shift in the purpose of online fundraising platforms, from funding gifts, trips, and personal initiatives to supporting struggling farmers, businesses, and individuals in need, reflects the economic challenges faced by many in France. A growing number of people are turning to online crowdfunding as a form of social support, as traditional avenues for financial assistance may fall short. The impact of the loss of purchasing power, health crises, and inflation is evident in the increasing use of online fundraising for basic needs.
According to the Observatory of Generosities by Odoxa for Leetchi, one in four French citizens has relied on solidarity to meet their financial needs in the past five years. In 2023, solidarity fundraising accounted for 25% of the total funds raised on the Leetchi platform, amounting to 60 million euros. The number of these solidarity fundraisers has increased by 13% between 2022 and 2023, highlighting the growing importance of online crowdfunding as a means of financial support in times of economic hardship.
While success stories like Antoine Foulu-Mion’s highlight the positive impact of online fundraising, other cases demonstrate the challenges faced by those seeking assistance. Farmers like Victor Bonnot, who have lost significant portions of their customer base, struggle to attract donations despite mounting debts. In such cases, the funds raised may only be sufficient to cover basic expenses like employee salaries, leaving little room for financial stability or recovery.
The story of Victor Bonnot, an agricultural entrepreneur from Saône-et-Loire, reflects the struggles faced by individuals who turn to online fundraising as a last resort. Despite his efforts to maintain his business and support his employees, he remains at the mercy of bank negotiations and uncertain about the future of his livelihood. The experience of being “left to fend for himself by the banks” is a common refrain among those who turn to online crowdfunding for support in times of need.
As the landscape of online crowdfunding continues to evolve, the role of platforms like Leetchi in providing a lifeline for struggling individuals and businesses becomes increasingly significant. The ability of these platforms to connect donors with those in need showcases the power of collective action and solidarity in addressing financial challenges. The shift towards using online fundraising for essential needs highlights the changing economic realities faced by many individuals and the importance of community support in times of crisis.
