This exceeds the £90,000 raised to launch computer magazine Linux Voice in December last year (also via Indiegogo).
Reporter Peter Jukes has raised more than £20,000 via Indiegogo to allow him to cover the entire hacking trial on Twitter.
The funding for Wings Over Scotland will pay a salary to editor Campbell (£19,890 a year) plus freelance contributors and hosting costs and allow it o publish a book summarising the pro Scottish independence arguments.
The site attracted some 240,000 unique browsers in February.
Its initial appeal for £53,000 (including £3,000 commission for Indiegogo) was reached in eight and a half hours.
Campbell, a Scot living in Bath, said: “The fundraising exceeded my expectations by a considerable margin. I was gobsmacked. I didn’t think it would reach the initial target never mind almost double it.”
The former computer games and travel journalist says he started Wings Over Scotland to provide an alternative voice to the mainstream Scottish media.
“Online media has set free people’s lack of willingness to put up with a media that is perceived as not providing a balanced view. A crack has opened up and whatever way the referendum vote goes I don’t think it can be closed.”
Amanda Geary of the University of the West of Scotland said: “It is very exciting and interesting. Crowdfunding provides a new dimension to how journalism is generated, publicised and funded. It is creating new opportunities for journalists.
“It is an example of how a political situation, in this case the independence vote in Scotland, has resulted in the creation of an alternative voice that co-exists with the traditional media,’ she added.”