Raleigh, NC -- A new crowdfunding site based in North Carolina is the only one of its kind to offer specific anti-fraud protections for both beneficiaries and donors.
CoFund Health utilizes pharmacy benefit networks and credit card technology to protect its users against dishonest fundraising campaigns. The site, which operates similarly to other crowdfunding sites such as GoFundMe or the former You Caring, is designed specifically for healthcare-related campaigns. The built-in fraud protections guarantee that the right person receives the money and that donors' funds go both to the person and to cover the expenses intended.
The anti-fraud protections are threefold:
1 - Anyone can set up a campaign, but before they can raise money, the named beneficiary must register with the site and claim the campaign.
2 - Once money is raised, only that named beneficiary can access the funds,via a pharmacy card or debit card in his or her name. This prevents any fraudulent "shadow campaigns," where someone raises money supposedly on behalf of someone else (a common crowdfunding scam).
3 - The monies raised can only be used for legitimate healthcare expenses and can't be pulled out as cash. CoFund Health uses pharmacy benefit networks and debit cards to specifically limit purchases to healthcare only -- doctors, hospitals, ambulances, even health insurance premiums are all eligible, but the card technology will deny any purchases at vendors who aren't coded as healthcare.
CoFund Health is a Raleigh, N.C.-based startup founded by Matt Martin and Burke Williams. Martin, a West Point graduate and Army veteran, is a veteran of the healthcare industry, previously serving as a vice president at TrialCard, a pharmaceutical access services company. Williams, also a healthcare industry veteran, worked for more than 15 years developing innovative patient support solutions as a leader and vice president at TrialCard.
Want an interview? Contact me to connect to cofounders Burke Williams or Matt Martin. 919-215-4669 or firstname.lastname@example.org.