Startup Idea: Cloud-Based Social Fundraising Platform

Startup idea to develop a web-based software to create a social network for families and friends that allows them to create a shared fund pool. Members can contribute and withdraw money as needed. The software would also track transactions and keep track of reasons for withdrawal. This could simplify the process of asking for financial help from different family members.

I am in a bit of a need for money, which gave me an idea for a web based software/social network.

It would be similar to facebook, perhaps it could even be on facebook, the premise would be that circles of family or friends would set up a sort of cloud based family fund, where all could contribute, and people could take money out freely.

Of course everything would be tracked, and notes could be left on why the money was needed.

This could be very useful, a fantastic alternative to having to call individual family members asking for help.

Something like this could be very popular. It is a lot like KickStarter and other crowd funding I know, but this would take cents if that is all that is donated, be exclusive to certain groups, and come with a phone app for quick donating.