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Iceland's First Crowdfunding and Crowdsourcing Platform Launches

Iceland's First Crowdfunding and Crowdsourcing Platform Launches

Crowdfunding news is piling up in Europe these days just as fast as the leaves are starting to fall from the trees. While a new law to legalize crowdfunding was hitting across the continent in Italy late last week, Karolina Fund was launching what it claims is Iceland's first crowdsourcing and crowdfunding platform.

"Karolina Fund will be different and more innovative than existing international solutions in that it goes beyond offering access to finance: it will connect crowdfunding and crowdsourcing with effective project management" says Ingi Rafn Sigurdsson, CEO at Karolina Fund.

The platform at describes itself as a "social platform, on which creators can collaborate with or obtain funding from the crowd, and others can invest, create, interact and/or offer their services and expertise."

Beyond hoping to provide funding and jobs are Iceland's ravaged economy, the platform also aims to address "lack of trust, transparency, and security in online transactions."

Some of Karolina Fund's kickoff campaigns include “Horsemen”, a movie in post-production by the Icelandic actor, author, and director Benedikt Erlingsson, a new album from Pétur Ben, one of Iceland’s most renowed guitar players and musicians, and the "Save a goat" project looking to promote and support production of Icelandic goat cheese and other goat products.

So far, Karolina Fund looks an awful lot like the majority of donation-based platforms out there, with the first seven projects already beginning to get some backers, but you can learn more about the long-term vision in the video below:



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