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Facebook now lets you hold fundraisers with your friends

(Image credit: Facebook)

They say it takes a village to raise a child, but a well-knit community can also come in a pinch for financial emergencies, such as an unexpected medical expense, disaster relief, or college tuition.

To help enable more peer-to-peer giving, Facebook is expanding its charitable giving tools to allow users to set up GoFundMe-style fundraisers for themselves, a nonprofit organization, or another individual.

The feature currently lets a user set up a page to help address one of six specified monetary needs: education, medicine, pet medicine, crisis relief, personal emergencies, and funerals.

From there, the fundraiser undergoes a 24 hour-long review process before going live for your Facebook friends to share, comment on, and donate to. You can also see which friends contributed to your cause, or invite others to join in.

For existing nonprofit pages, Facebook is also adding donation buttons that go up alongside Facebook Live broadcasts — perfect for chipping in a little without interrupting your digital-era telethon or charity livestream.

Facebook's fundraiser feature rolls out in beta starting this week for users in the US. An important note: the social media giant has made it clear you must be 18 or older to set up a crowdfunding page.