Three crowdfunding platforms for African tech startups

November 23th, 2020 – With the global pandemic impacting African SMEs and startup’s financial revenue, Ventureburn has highlighted three crowdfunding platforms that aim to assist African startups.

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.

More…https://ventureburn.com/2020/11/three-crowdfunding-platforms-for-african-tech-startups/

Written by Ventur Burne
Photo: Bundupress