Anyone can start using Spacehive and create a project for free. However in order to ensure the continuing development and maintenance of our technology platform, the process of verifying projects, and the support that we provide, we apply a success fee to projects which hit their target with us.
Our success fee is a flat 5% (+1% VAT) on the total cost of your crowdfunding campaign. This fee is automatically calculated and added to your total when you input your project costs, and is visible in the budget section of your page so that this is transparent to all.
As an example, if you input project costs and it totals £100, a £5 fee and £1 VAT will be automatically added, giving a total of £106.
In order to collect pledges, payment providers will also charge a small transaction fee (yes, every time you pay by card in a shop, the business pays this fee!).
PayPal charges 3.4% + 20p per pledge and GoCardless 0.5%. These are estimated at the beginning of your campaign and are automatically added onto your total project costs. Because these are estimations you might notice your campaign target fluctuating depending on the payment methods used by backers and the pledge sizes. Generally the transaction fees are overestimated so you’ll probably see your target decreasing over the duration of your campaign, especially if you get a big pledge or if you mostly receive GoCardless pledges.
As an example: £100 (project costs) + £6 (Spacehive fees + VAT) + £~2 (transaction fees) = £108 (total amount to raise)
Spacehive and transaction fees are shown in the Costs tab of project pages.