News

​Talkin’ ‘bout a revolution: politics and crowd finance

February 23, 2017 • By TAB team

Crowd finance has already revolutionised capital markets, international development and charitable giving. Now it’s turning its attention to politics.

Crowd finance has already revolutionised capital markets, international development and charitable giving. Now it’s turning its attention to politics.

In the wake of the recent US election, Green Party candidate Jill Stein raised over $6 million from the crowd to file for recounts in three swing states.

Having noticed the crossover between politics and crowd finance, platforms and agencies are rolling out new offerings to meet demand. For example, Crowdfund is offering consulting services to individuals and organisations interested in using crowd finance for political purposes.

Crowd finance also offers opportunities for citizens to take political action by funding judicial reviews, enabling anyone to challenge the legality of government policy.

Last month, Denise Brewster won a legal battle – part-funded by crowd finance – that’s likely to transform pension rights for unmarried couples.

And Julia Salasky, a former lawyer, recently founded crowd finance platform CrowdJustice. The platform has already raised £85,000 to fund a review into implications for patient safety in light of changes to the government’s NHS policy. The platform is now being rolled out in the US and having an immediate effect.

Companies are also considering judicial review challenges as part of their efforts to proactively manage relationships with policymakers and shape the regulatory climate. It will be fascinating to see if corporates take to crowd finance to fund judicial challenges that are aligned with broader social demographics.

At Crowdsurfer, we're excited about this trend. Crowd finance removes barriers to entry for political and legal action, ensuring that money is no object in the pursuit of fairness and justice.