Refund Policy
Last updated: January 2024
Understanding Crowdfunding
Important Notice
Crowdfunding is not a traditional purchase. When you back a project, you are supporting a creator's vision and helping bring their idea to life. While creators are expected to fulfill their promises, backing a project involves inherent risks.
CrowdRaise uses an all-or-nothing funding model. This means creators only receive funds if their project reaches its funding goal. This model helps protect backers by ensuring creators have adequate resources to complete their projects.
Refund Eligibility
Your eligibility for a refund depends on the status of the project you backed:
Project Not Funded
If a project does not reach its funding goal by the deadline, all contributions are automatically refunded to backers.
Project Cancelled by Creator
If a creator cancels their project before the deadline, all contributions are refunded to backers.
Successful Project
Once a project is successfully funded, contributions are transferred to the creator and cannot be refunded through CrowdRaise.
Reward Not Delivered
If a creator fails to deliver promised rewards, backers may be eligible for refund consideration through our dispute resolution process.
How Refunds Work
Automatic Refunds
When a project fails to reach its funding goal or is cancelled by the creator, refunds are processed automatically within 5-10 business days. The funds will be returned to your original payment method or connected wallet.
Cryptocurrency Contributions
For contributions made in USDC or other supported cryptocurrencies:
- Refunds are processed to the same wallet address used for the contribution
- Smart contract automatically releases funds back to contributors
- No action required from backers for automatic refunds
- Gas fees for the refund transaction are covered by the platform
Refund Timeline
Dispute Resolution
If you believe you are entitled to a refund that hasn't been processed, or if a creator has failed to deliver promised rewards, you can initiate a dispute:
- First, contact the creator directly through the project page
- If unresolved after 14 days, file a dispute through your dashboard
- Our team will review the case and mediate between parties
- Resolution typically takes 14-30 days depending on complexity
Note: We encourage backers and creators to communicate and resolve issues directly whenever possible. Our dispute resolution is a last resort.
Platform Fees
When a refund is issued:
- Unfunded projects: Full contribution amount is refunded
- Cancelled projects: Full contribution amount is refunded
- Dispute resolution refunds: May be subject to processing fees
What We Cannot Refund
CrowdRaise cannot issue refunds in the following situations:
- Successfully funded projects where funds have been released to creators
- Dissatisfaction with reward quality (if reward was delivered as described)
- Change of mind after successful funding
- Delays in reward delivery (within reasonable timeframes)
- Third-party payment processing fees (e.g., blockchain network fees you paid)
Creator Obligations
Creators on CrowdRaise are required to:
- Use funds as described in their project
- Deliver rewards as promised or communicate changes
- Provide regular updates to backers
- Respond to backer inquiries in a timely manner
- Offer refunds if they cannot fulfill their obligations
Creators who repeatedly fail to meet these obligations may be removed from the platform.
Contact Us
If you have questions about our refund policy or need assistance with a refund: