CROWDFUNDING is a method of raising money for businesses, people, projects, or charities through collective donations. According to Investopedia, crowdfunding can be understood as the “use of small amounts of capital from a large number of individuals to finance a new business venture.”
Individuals or organisations contribute an amount via the internet to support projects or ventures.
Traditional methods of funding a startup such as applying for a loan at a bank with an applied interest rate can become a costly option for many local entrepreneurs.
Crowdfunding allows entrepreneurs to connect and network with potential investors beyond private funding and venture capitalist firms. In a symbiotic relationship, some crowdfunding platforms offer potential rewards or profit to those who donate.
NaijaFund is a Nigerian crowdfunding platform that uses technology to simplify the donation process. The aim of the platform is to connect startups and small and medium enterprises (SMEs) to potential
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