Prytany Announces Acquisition and Relaunch of Fundraising Platform Crowdpac
Fees drastically reduced from 8% to 3% to expand opportunities for political engagement
WASHINGTON, Nov. 20, 2019 /PRNewswire/ -- Crowdpac, the crowdfunding platform that raised more than $15.7 million for progressive candidates and causes before shuttering in June of 2019, is relaunching today after being acquired by the founders of Prytany. Crowdpac's 300,000 members can return to their original accounts to raise funds for potential candidates and causes.
Crowdpac launched in 2014 as a way for potential candidates to test the viability of a political run. This encouraged talented, non-traditional candidates – from nurses to scientists to teachers -to gauge likely financial support for their candidacies. Perhaps the platform's most well-known success stories are now Rep. Lauren Underwood (D-IL) who used the platform in 2017 to test her network for financial viability before her eventual congressional run and the crowdfunding of $4.5 million for Republican Sen. Susan Collins' would-be 2020 challenger.
Recently launched Prytany is the cheapest, fastest, and most secure fundraising application of its kind, enabling direct engagement among voters and elected officials and candidates. Its acquisition of Crowdpac furthers its mission of giving Americans a less expensive, transparent and direct way to express their political will and bringing the power of the government back into the hands of everyday people.
"Together, Prytany and Crowdpac offer the American electorate more choice as to what candidates they support and how they support them," said Prytany co-founder Chris Tavlarides. "This will inspire a new wave of voter engagement. Crowdpac embodies Prytany's mission of ensuring that all voices are heard."
Crowdpac's former fee structure charged 8% on contributions collected. Newly relaunched, the platform's fees will be reduced to just 3% on any political contribution they make.
While Prytany will remain a nonpartisan platform, Crowdpac will operate as a stand-alone business to continue to serve progressive ideals and principles. It will be run by Royal Kastens, former Sen. Ted Kennedy staffer and political veteran.
"We are making Crowdpac more affordable for our 300,000-member strong community just in time for the most important election of our lifetime," said Kastens. "The 2018 elections made it clear that crowdfunding is one of the most effective ways to make an impact in politics. We founded Prytany to re-engage voters in the political process by bringing our democracy back to its intended purpose. By relaunching Crowdpac, we are giving the American electorate another powerful tool to own their politics."
To learn more visit crowdpac.com or prytany.com, and download the Prytany app on the Apple Store or on Google Play today. Join the conversation on Twitter @Crowdpac and @thePrytany, or email [email protected] or [email protected].
SOURCE Prytany LLC
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