The Muslims United for London group set up a crowdfunding campaign in the wake of the atrocity and saw donations come pouring in within the first hour.
The money raised will be used to support victims and their families. Four people were killed and 40 injured in the attack on Wednesday afternoon.
Muslims United for London was established by Muddassar Ahmed, who was in the Parliament building during the attack. Along with several others, Mr Ahmed spent nearly five hours in the building while police secured the area.
A message on the fundraising page reads: “100% of funds collected through this campaign will go to the victims and the families of the victims most affected by the tragic events that unfolded on March 22, 2017, in our community.
“Though this is a Muslim-led campaign, we welcome our friends of other faiths and none to also contribute.
“We are overwhelmed by the generosity of donors from all over the world, from Muslim communities as well as those of other faiths and none.
“Having reached the £20,000 goal, we have increased the target to £30,000 in light of the increased interest to enable us to do more for the victims.
“This will be the final increase, but we do encourage people to keep donating until the end of the fundraiser.”
Mr Ahmed told The Telegraph newspaper that funds would likely be distributed through the police roll of honour trust but that the group was ‘exploring several options’.
A statement from Muslims United for London read: “The British Muslim community stands with the community during these difficult times and extends their support in raising funds to help with the immediate, short-term needs of the families of Keith Palmer, the other victims and the families of the victims.
“While no amount of money will bring back lives lost or take away from the pain the victims and their families are going through, we hope to lessen their burden in some way.”
At the time of writing the total raised was at just over £23,400.