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Best Crowdfunding Sites To Fund Your Business Ideas In Nigeria

crowdfunding in nigeria

Got a lucrative business idea but need some funding to kick-start it? Then crowdfunding might be your next available option. Crowdfunding is becoming an increasingly popular way for entrepreneurs to fund their business ideas.

Not all ideas require a grant, bank loan or VC funds to get started. Crowdfunding essentially relies on the idea of democratizing the flow of money into a project or business. Today, millions of projects in the United States of America have seen the light of the day thanks to strong backing from the community in exchange for simple yet fun and exclusive rewards.

Whether you’re funding the next hottest startup, a creative endeavour, or a caused-based organization, you’ll find a crowdfunding site below that might just be perfect.

1. Kickstarter.

Kickstarter is a funding platform for creative projects. It is a great platform for artists, filmmakers, musicians, designers, writers, illustrators, explorers, curators, promoters, performers, and others to bring their projects and ambitions to life. Project creators inspire people to open their wallets by offering products, benefits, and fun experiences.

On Kickstarter, funding is all or nothing, so you must meet the goal you set within the allotted time or everyone gets their money back. It’s free to create a project on Kickstarter, but if it’s successfully funded, Kickstarter applies a 5% fee to collected funds. There will also be processing fees between 3-5%.

Also Read: 5 Major Reasons Why 80% of Startups Fail in Nigeria.

2. NaijaFund.

NaijaFund is a crowdfunding platform that empowers everyone and enables people to raise funds for anything including business. NaijaFund removes the physical barriers traditionally associated with receiving financial support from the people in our lives or those that wish to support.

The platform allows users to connect their account with social media networks where they can easily ask for funds from friends, family, friends of friends, community leaders, pastors, and others. While it’s free to create and share your online fundraising campaign, NaijaFund will deduct a 10% fee from each donation that you receive.

3. Fundanenterprise.

Fundanenterprise is a donation-based crowdfunding website built specifically for fundraising activities, solely in the form of grants to support start-ups, micro, small and medium-sized enterprises in Nigeria and beyond.

According to DailyTrust News, Fundanenterprise is here, not only to provide the much-needed relief to start-ups, small and growing businesses but to change the way Nigerians in particular and the world in general support business operations.

4. CircleUp.

If your business is focused on building and producing consumer brands, check out CircleUp. CircleUp it’s one of the best equity crowdfunding platforms around.

If you’re an entrepreneur working to get your consumer product on the market, CircleUp offers an exciting array of services, including a platform for connecting with accredited investors, insights from machine-learning technology, and access to special lines of credit for startups.

5. MicroVentures.

MicroVentures is an equity crowdfunding investment platform, combining the best of venture capital with equity crowdfunding. Since 2009, MicroVentures has been helping businesses (including Facebook) access capital from both accredited and non-accredited investors.

MicroVentures reviews an applicant’s idea, team, traction, market size and other factors before selecting the startup to be featured on its site. From there, the funding process typically takes six weeks, according to the company’s website.

Also Read: Top 10 Early-Stage Startup Investors And VCs In Nigeria.

6. Indiegogo.

Indiegogo is a global crowdfunding platform empowering people around the world to fund projects and ideas that matter to them. The platform enables individuals and startups to generate pre-sales and collect feedback from early adopters before they manufacture their products.

Indiegogo offers both live crowdfunding campaigns and a marketplace for innovative products. Since inception in 2008, it has helped entrepreneurs across the globe raise over 1 billion dollars for more than 650,000 projects.

Final Thoughts.

If you’ve decided to crowdfund your business idea, plan it carefully. Consider hiring professionals to help you present your idea. The better your presentation, the greater your chance of running a successful crowdfunding campaign.

Talk to potential investors and use social media to promote your message. Decide whether you want to use PR and marketing agencies. Anything that raises the profile of your campaign will help your crowdfunding effort succeed.

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