What is Crowdfunding?

Crowdfunding is the practice of funding a project/venture or social cause (Medical/Education/ Sports/Creative/Health/environment etc) by raising money from many individuals for a common goal.

Crowdfunding is the practice of funding a project or a venture by raising money from a large number of people, especially via the internet. These people are called investors, and they can contribute any small amount of money depending on their capabilities. It targets individual donors.

Fundraising is seeking financial support for a cause or a charity. There is a misconception that fundraising is more effective as compared to crowdfunding. However, the power of Internet, social media, virality and trends make crowdfunding campaigns more successful as opposed to traditional fundraisers.

How Do Crowdfunding Platforms Work?

Crowdfunding websites list your project/cause and help you raise money for it. You just have to create a campaign, set a goal and promote it. Some websites allow you to set up a campaign free of cost and charge you a minimal platform fee of 12% on the total funds raised. You can drive the campaign by yourself or for an additional fee, request the platform for assistance to reach your goal faster.

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