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Partners: Add a pledge from MyFunds
Partners: Add a pledge from MyFunds

Using My Funds to add a pledge, and FAQs on pledging

Updated over a week ago

How to add a pledge:

1. Start by approving the project like normal.

IMPORTANT: You can only pledge on a project once it is in 'Approved' status. Note that this will trigger an email to the Project Owner.

2. From the ‘Applications’ section click on the ‘Add a pledge’ button

IMPORTANT: Before clicking the add a pledge button please make sure you haven't already placed a partner pledge on the project. You can do this by checking the pledged and pledges as highlighted in orange below.

3. Enter the pledge amount

You will see a dropdown box named 'Project' which lists your approved project. Enter the amount you want to pledge.

4. Check or edit the pledge conditions.

These are defaulted to the Crowdfunder standard fund conditions, but you can edit these by removing or editing the condition amounts.

  • The pledge conditions refer to which conditions the project needs to have met for the pledge to go onto their Crowdfunder page. These are defaulted to:

    1. Percentage funded - 25% - i.e. the pledge will appear on their page once the project has raised 25% of their target

    2. Number of unique backers - 25

  • The payout condition is defaulted to:

    1. Project must be 100% funded meaning it must hit its target.

You can edit these conditions and add new ones. Be aware that the project must hit all pledging conditions for the pledge to go on and all payout conditions for the pledge to be paid out.

5. Click the 'Add pledge' button to submit.

6. The status will change to 'Pledged' soon.

The Crowdfunder team will switch the application to 'Pledged' status within the next 7 days.

Watch a video of these instructions here:

Common Questions:

What if I make a mistake?

  • If your pledge is still pending (i.e. the project hasn't met the conditions yet), you can cancel the pledge from the 'Pledges' page in MyFunds, and re-do it following the steps above.

  • If your pledge has been accepted (i.e. it is on the project page), you can't cancel this yourselves. Email [email protected] and we can cancel the pledge, so that you can create a new one.

Can I pledge on a temp project?

  • You can pledge on a temp project, but we would recommend you add the following conditions.

  • This is because a project can change their target whilst they're still in temp, so it is an extra condition to ensure that they have to raise the set amount that you approved based on their original target.

    • Conditions to pledge:

      • Condition: Amount Funded = £X amount calculated as 25% of their target

    • Conditions to pay out:

      • Condition: Amount Funded = £X amount submitted as their target

Why doesn't the status automatically change to pledged?

This is in the product roadmap, but isn't currently available. We'll be in touch as soon as any new developments are made on pledging in the MyFunds area.

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