Etsy is getting into the crowdfunding game with its own platform to help merchants raise money for new products, which they’ve named ‘Fund on Etsy’.
The pilot program is beginning on June 16 and will continue for two months. It’s currently only available to select sellers in the U.S.
Like Indiegogo or Kickstarter, Fund on Etsy is meant for products that need help to get up and running. Etsy says Fund is aimed at “creative handmade products,” but don’t mention limitations on which types of items a seller can seek funding for.
Etsy says Fund can be used to grow an existing business, too. “Funds raised through these products enable sellers to grow their businesses in various ways, from studio expansions to purchasing new tools to hiring a helping hand. Growth means different things to different people, and we believe Fund on Etsy will allow sellers to continue to grow on their own terms.”
When the trial period for Fund ends, Etsy says they’ll examine feeedback to “determine what’s next.”