Crowdfunding can be a quick and easy way to meet unanticipated, pressing needs. Today, anyone with a smartphone can participate in making a difference with great ease. More and more people are now raising funds online to tackle emergencies more efficiently. Increasing digital access and the convenience of online payments are driving more and more Indians to take the digital route to mobilize greater support for urgent needs on time.
India’s private healthcare spending is estimated at $90 billion a year. Of this, about $60 billion is out-of-pocket: from savings, borrowings and support from friends and family. This is where crowdfunding plays a role, bridging the gap, and making it easy to both ask for and render financial assistance.
People have always turned to their friends, family and communities at a time when a significant amount of money is required to deal with urgent medical crises.