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GoFundMe CEO says more people seeking help with basic needs like groceries, rent

Platform CEO notes trend spans multiple countries despite easing inflation in recent years.
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More people are turning to the popular fundraising website GoFundMe for help with basic necessities like groceries, rent and utility bills, according to the platform's CEO.

Tim Cadogan said Monday on the Opening Bid Unfiltered podcast that users are increasingly seeking assistance for essential needs including car payments and other bills.

"We're seeing that more and more," Cadogan said.

The trend extends beyond the United States to many Organisation for Economic Co-operation and Development countries, which include much of North America, Western Europe and East Asia, according to Cadogan.

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This pattern has increased over the last three years, even as inflation figures have eased in the U.S. during that time, Cadogan said.

The consumer price index shows costs for the ordinary American increased 2.9% in the 12-month period ending in August. September figures have been delayed due to the ongoing government shutdown.

However, in the four years since August 2021, prices for goods and services in the U.S. increased 18%.

Cadogan noted that in 2024, there was a 6% increase in the amount of money raised by GoFundMe for campaigns. The overall number of donors actually declined during that period.

With potential cuts in government programs, Cadogan sees an opportunity for services like GoFundMe to help fill gaps in assistance.

"As you see this shift in maybe governments doing less, we think there's a real opportunity to help increase that percentage, specifically in the U.S.," Cadogan said.