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The phrase "raise funds for" is correct and usable in written English.
You can use it when you want to talk about the process of collecting money or resources for a particular purpose, such as a charity event or a project. For example, "We are raising funds for a new playground in our community."
Exact(60)
Now they must raise funds for 2013.
State to raise funds for the support of education.
Runners will raise funds for Broadway Cares/Equity Fights AIDS.
Panel members also raise funds for the center.
Payne held coffee mornings to raise funds for fishing equipment.
The goal is to raise funds for Anton and Penny's young children.
Commentators also note that Adani is struggling to raise funds for the project.
Does America have to hold a lottery to raise funds for such restoration?
The Guinean government complained MSF was spreading panic to help raise funds, for example.
"World-renowned sleep artist auctions off his dreams to raise funds for disabled children", it read.
Some continue to work, others raise funds for their for-profit and not-for profit ventures.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com