Meaning of the word "raise money" in English

What does "raise money" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

raise money

US /reɪz ˈmʌn.i/
UK /reɪz ˈmʌn.i/

Phrase

to collect money for a particular purpose, especially for charity or a project

Example:
•
They are trying to raise money for a new community center.
•
The charity event managed to raise money for several important causes.