Top 5 Crowdfunding Platforms in Nigeria
The Nigerian government defines crowdfunding as raising funds to finance a project or business from the public through an online platform. The word has been synonymous with agriculture for most of the population since 2015. For five years, a boom in agriculture-focused crowdfunding platforms provided citizens to invest in agro-businesses with expected returns.
The trend created an opportunity for many crowdfunding platforms to expand services beyond raising business capital. Now, Nigerians can create a fundraising campaign for diverse reasons – medical, education, business, and more.
Why Crowdfund in Nigeria?
70% of the Nigerian population (Euormonitor, 2021) engages within their communities. People understand the need of helping their friends and family in challenging times. Thus, crowdfunding for your financial needs may be the best way to get the help you need.
Top Crowdfunding Platforms in Nigeria
Equity crowdfunding platforms for businesses have monopolized the market for years. Now, donation-based crowdfunding platforms are available for Nigerians to do fundraising.
Airfunding has been the go-to platform for Nigerians in fundraising for medical, education, community, business, and COVID-19 relief projects. Airfunding has received donations from more than 130,000 supporters worldwide. These donations have funded many projects in Nigeria and other countries.
NaijaFund is one of the crowdfunding pioneers in Nigeria. Starting in 2015, it has allowed projects related to the arts to random personal wishes. NaijaFund is only available for Nigerians. It limits the opportunity to open the community outside of the country.
Quickraiz started in 2018 with the mission to create an efficient way for Nigerians to do fundraising. Backed by Electronic PayPlus Limited, it focuses on making sure donations are secure for both project owners and supporters. Many projects are already available in Quickraiz. But, it has yet to reach out to more supporters to receive donations for project owners.
FundAnEnterprise.Org claims to be the first crowdfunding website in Nigeria. It operates as a donation-based and reward-based crowdfunding platform. They focus on micro, small, and medium enterprises dreaming to make it big in the industry. The site is still available for viewing, but it seems to be non-operational at the moment.
Member of the early pioneers in crowdfunding worldwide, Kickstarter has reached the shores of Nigeria. The company has claimed to have funded more than 200,000 projects worldwide since 2009. But, project owners should be aware of how things work on Kickstarter. It is a donation-based crowdfunding platform with an all-or-nothing clause. If you have not achieved your set goal, all donations are refunded to the supporters. (Yes, even if it’s millions of Nairas already!)
Starting a Crowdfunding Project in Airfunding
It’s easy to start a fundraising campaign in Airfunding. Follow this step-by-step guide and start fundraising for your project today! Don’t miss out on fundraising tips by tuning in to new blogs uploaded here.