Instagram is launching its own version of GoFundMe, allowing users to raise money for personal causes

• Instagram is rolling out a tool that will allow users to raise money on the app, GoFundMe-style.
• Only users 18 years old and older can create a Personal Fundraiser for a small business or for a "cause that's important to you."
• The tool is launching for users in the US, the UK, and Ireland today on Android. An iOS test will follow soon.

Instagram unveiled a new tool that will allow users to launch GoFundMe-style fundraisers on the social media site, according to a blog post published Tuesday.

The company's Personal Fundraiser feature is for people to "raise money for a personal cause, like yourself, your small business, a friend, or a cause that's important to you." It's not unlike the sort of campaigns you see on fundraising site GoFundMe.

To create a Personal Fundraiser, you must be at least 18 years old. In the app, click "Edit Profile" and then navigate to "Add Fundraiser," and tap "Raise Money." According to the company, the app will ask you to input your information for Stripe, the payment service Instagram is using for the donations.

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There's a review process in which donation causes are vetted before being approved and before you can start raising money. The fundraising period lasts for 30 days with the possibility of extension. The money is deposited in the bank account of choice at the end of the fundraiser.

Contributors can opt to stay anonymous from the public, but not from the creator of the fundraiser — their username, profile name, and the amount donated will still be visible to that person.

The feature will begin rolling out today in a small test for users in the US, the UK, and Ireland on Android. Capabilities on iOS will roll out soon.