Q. What is PITFUND?
A. The racing community is the most helpful community in all of sport. PITFUND was created specifically for the racing community to connect and help each other, no matter the level, type of racing or geography. Through funding, advice or information sharing (marketplace coming soon) PITFUND is the go to platform for everything in your racing life and your racing life only.
Q. Who is PITFUND for?
A. Anyone passionate about racing should make a PITFUND page. Fan, Racer, Team, Track/Venue, Media, Manufacturer, Camp/School, ANYONE. The bigger the community the better. We just ask that you keep your PITFUND page and interaction strictly about racing.
Q. What are the fees and how are they broken down?
A. Crowdfunding platforms use third party companies to process payments for many reasons including security. The average percentage for this service is 3% - 3.5%. PITFUND utilizes WePay and passes through their charges with no markup.
Crowdfunding platforms also keep 5% - 9% of all transfers. PITFUND sets aside 5% of all Fueling transfers, keeping 4% and funneling 1% into an account which is utilized to give back to the racing community through various types of donation.
In summary, the breakdown of Fueling is: Third party processing partner (WePay) receives 3.2% - PITFUND sets aside 5% - PF retains 4% and the Racing Community receives 1% - Fuelee receives the remainder. Also, just as most crowdfunding platforms, PITFUND receives .30 cents per transaction.
Q. Do Fuelees have to give back to Fuelers?
A. No. While it is good practice to provide some kind of give back, PITFUND believes that by demonstrating your passion and participation, Fuelees can confidently and politely request and receive Fueling from Fuelers.
Q. What are some give back ideas that Fuelees can offer Fuelers?
A. Swag is always good, stickers, shirts, hats, etc.. What we have found the racing community cherishes most is access to the Fuelee. Weekly video chats to discuss the past weeks race, garage visits, social media shout outs and year end picnics are all ways Fuelees connect with Fuelers and show appreciation.
Q. How many Fueling Goals can I run at a time?
A. As many as you would like. Having an annual, general goal is a good start (2018 Season) and then adding subsequent goals below it (Tires). Being specific helps with requests to Fuelers.
Q. Is PITFUND global?
A. Right now, anyone in the world can sign up for PITFUND. Fueling capabilities are only available in North America & the U.K.. Global Fueling will be available in the coming weeks.
Q. What makes PITFUND different from other social media, crowdfunding and marketplace platforms?
A. PITFUND keeps things simple, clean and safe. Our evolving user experience will always be easy to understand and navigate. Our funding process is not capped by time or amount. PITFUND is strictly for your racing life and will not be cluttered with irrelevant content like recipes, cat videos or political issues. The highest user safety is paramount. User data is not sold and third party platforms have no access to your profile.
Q. How do I add/change my profile picture?
A. Click on your profile picture or the settings link in the header, in the settings screen, the bottom line allows you to upload and add/change your profile picture.
Q. How do I adjust the size and/or placement of my pictures?
A. This functionality is being addressed and will be implemented shortly.
Q. Is PITFUND evolving?
A. PITFUND is rapidly developing many features and will roll them out as they are ready. We do invite feedback and ideas from our users. Don’t be shy, contact us. This platform is for the racing community and will be shaped by the racing community.
Q. Are there any time deadlines or funding goals for my Fueling Goals?
A. Absolutely not. Keep your goal up as long as you want. Goals can be stopped or deleted at your discretion. Retrieve your Fuel daily, weekly or monthly – see your settings when you sign up with our payment processing partner, WePay.
Q. When can I access the money that my Fuelers have Fueled me?
A. Daily, weekly, monthly or other intervals. See the settings in your WePay account.
Q. What if I do not need Fueling at this point?
A. Definitely join the community anyway. PITFUND is the platform for racing. Your insights might help someone. If you are able to fuel someone else, know them or not, even better. Plus, you may need Fueling someday, the network you build now will be the first ones to help.