Crowdfunding is the practice of raising money for a cause, business, or initiative via smaller contributions from a larger number of people. Even better when the crowdfunding software platform encourages sharing of “the ask” in order to reach more people.
Crowdfunding has become a popular method for nonprofit fundraising and for jumpstarting a small business venture. It is used to raise money for individuals who have suffered from a personal tragedy or natural disaster. Kiva and Kickstarter are two of the most well-known websites for startup company fundraising. GoFundMe is the popular choice for raising money for individuals in need. Givio is a top mobile platform for crowdfunding for charities.
From a fundraising perspective, ‘crowdfunding’ for individuals is synonymous with peer-to-peer giving.