South Africa’s crowdfunding platform for travellers, Trevolta, says it will wind up its services by the end of August, 2015.
The decision to close shop was chalked up to complicated business structure, global trading limitations including shareholding and management decisions, according to Disrupt Africa.
Trevolta says new campaigns will not be listed on its website and all donations will be suspended by August 17, 2015 while outstanding balances will be settled by August 23,2015.
Dear friends, it's time for us to say goodbye, we wrote u a msg & would love for u to read it http://t.co/UZUdgm2EPy pic.twitter.com/pipItcY43H
— Trevolta.com (@trevoltadotcom) July 20, 2015
“In good faith and because we believe in the vision of Trevolta and value our community, we as founders have been funding the business for the last 8 months in the hopes that we would eventually find a solution,” Trevolta states on its website, “but unfortunately we are no longer able to do so due to the ever growing complexity of the business and the associated costs.”
Launched in 2014, Trevolta helps people to raise money for travelling, especially for inspirational trips or those that have to do with helping people.
Meanwhile, Trevolta is directing traffic to other crowdfunding websites such as Indiegogo, GoFundMe, TravelStart and HoneyFund.
Image: Ivabalk via Pixabay
