Milli: A New Approach to Crowdfunding in South Africa

A new peer-to-peer crowdfunding platform called Milli is emerging as a vital resource for individuals facing real-life financial challenges. Founded in 2023 by Dario Eugenio and Dr Peter Konhäusner, the startup aims to address access to capital barriers that often prevent talented people from reaching their full potential.

From Thesis Project to Real-World Solution

The idea behind Milli originated with Eugenio’s master’s thesis on crowdfunding and its ability to create more equitable opportunities. After witnessing firsthand how limited access to funding impacted individuals while working in clinical psychology, he sought to build a solution that could address this systemic issue at scale.

What Sets Milli Apart?

Milli distinguishes itself from traditional crowdfunding platforms through several key features:

• Active Funding Support: The platform not only hosts campaigns but actively helps fund them through its community and partner network\n* Storytelling Focus: Campaigns emphasize compelling narratives, videos, and social sharing to engage potential donors\n* Community-Driven Approach: Milli fosters a supportive environment where individuals can connect with others facing similar challenges

Early Traction and Future Plans

After securing pre-seed funding from Aions Ventures and angel investors, Milli officially launched in November 2023. Since then, it has onboarded thousands of users and processed over 3,000 donations:

• Adding approximately 500 new users monthly\n* Seeing campaigns funded within hours or raising up to ZAR35,000 (US$2,000) in one to two weeks\n* Having 60% of visitors create their own funding campaigns

With its initial success in South Africa, Milli has ambitious plans to expand across Sub-Saharan Africa, leveraging high mobile usage and social sharing behaviors to reach more people in need. The platform’s simple monetization model—a flat fee of ZAR1,000 (US$60) per campaign—is designed for predictable growth as volume increases.