Crowdfunding is alternative to traditional financing, allowing many individuals to financially support a project or a company by each contributing only a small percentage – usually less than 1% and less than R 10 000 – of the total funding required.
As such, crowdfunded projects have thousands of backers who access projects and businesses requiring funding through websites called crowd funding portals (CFPs).
It is already a multi-billion dollar industry, growing at more than 50% a year. Kickstarter.com, for example, has raised more than $1 billion for over 60 000 completed projects. Read Here