In the ever-evolving world of crowdfunding, a handful of dominant platforms continue to lead the way in 2024, while new players are also gaining traction by catering to specialized niches and trying innovative approaches.
The rewards-based crowdfunding giants Kickstarter and Indiegogo remain the go-to sites for creative projects seeking funds from the public in exchange for product pre-orders and other backer rewards. Kickstarter, the pioneering platform launched in 2009, has raised over $7.2 billion for more than 250,000 projects from its over 20 million registered backers.
Indiegogo has secured its position as well by allowing more flexible kept-what’s-raised campaigns. Known for its ease of use, the site has been a crowdfunding force in its own right.
In the realm of donation-based crowdfunding for personal causes and charities, GoFundMe stands out as the undisputed leader. The platform has raised a staggering $9 billion from 120 million donations since 2010, making it a vital funding avenue for those facing medical crises, education costs and more.
Meanwhile, the creator economy has turned to Patreon, which pioneered the model of fans providing recurring monthly membership payments to support their favorite artists, makers and other creative professionals on an ongoing basis.
For equity crowdfunding, enabling public investors to buy stakes in startups, the likes of Republic, AngelList and UK-based Crowdcube are among the major platforms to watch. Republic in particular has opened up this arena to non-accredited investors.
A number of crowdfunding upstarts are also making waves in 2024 by carving out specialized niches. IFundWomen has emerged as a go-to for female founders seeking funds for their businesses. And budu.com is a new all-in-one site aiming to support any type of crowdfunding campaign, from creative projects to causes to startups.
“The crowdfunding landscape continues to evolve with new variants and platform features being introduced all the time,” said crowdfunding analyst Jeanie Thompson. “While the biggest players still dominate, there is always an opportunity for innovative new entrants to shake things up.”
As crowdfunding keeps expanding its reach and impact, both funding portals and the project creators who use them must continue adapting to seize the opportunities ahead.Cop
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