As traditional donor budgets continue to dwindle, the search for innovative financing solutions is on, and crowdfunding seems to be on everyone’s mind.
While the tool “is no silver bullet,” NGOs and social enterprises are increasingly looking to crowdfunding platforms to help connect efficiently to aid agencies, foundations and other people that are willing to help and invest in their ideas, Kiva President Premal Shah told Devex’s Kelli Rogers in this video interview on the sidelines of the Clinton Global Initiative’s annual meeting in New York.
In the next decade, he explained, expanded access to mobile technology will enable crowdfunding to become a much more common way of doing good.
Click on the clip above to learn more insights from Shah on what to expect in the near future from Kiva as the organization evolves from its traditional model of relying exclusively on online microfinance to broader “social lending for social good” through other tools.
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