If you’re like many other people looking for crowdfunding sites in Nigeria, then I’ve got the list of 6 crowdfunding platforms in Nigeria.
Still, many Nigerians with lucrative business ideas don’t know how to get funding when there’re starting a business; they’ve definitely not explored any crowdfunding website.
What Is Crowdfunding In Nigeria?
Generally speaking, Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet
But today, crowdfunding means much more than raising money.
For example, Non-for-profit organizations use crowdfunding to gather donations towards the execution of a project.
They often refer to crowdfunding as online fundraising, social media fundraising or peer-to-peer fundraising.
The concept of crowdfunding depends on the purpose of financing a project usually through the internet by a group of people, whereby each contributes a moderately small amount.
You do not require a bank loan or a grant to fund your rewarding business ideas.
Many entrepreneurs have chosen to crowdfund their business ideas through crowdfunding sites in Nigeria, as it is becoming popular.
6 Crowdfunding Sites In Nigeria
Crowdfunding helps you get close to your clients by engaging them through questions, comments, and feedback.
It also gives entrepreneurs the exposure they need for them to grow.
If you’ve got hot business ideas, below are some crowdfunding sites in Nigeria that might be perfect for you.
Note: This list is in no order.
NaijaFund
NaijaFund is one of the free crowdfunding platforms in Nigeria. It allows anyone to raise fund for what matters to you including business.
This platform enables the operators to link their accounts with social media and ask for funds from friends, relatives, pastors, members of associations and even classmates irrespective of the users’ location.
The registration is free, but after you receive the donations, NaijaFund will deduct ten percent of the fund donated.
Visit the official website of Naijafund for more information.
Fund An Enterprise
Fund An Enterprise is one of the fundraising websites in Nigeria.
It is exclusively built for fundraising activities in the form of endowments to support small to medium enterprises and startups in Nigeria and other countries.
Fundanenterprise is here in favor of business startup and it is one of the best crowdfunding sites in Nigeria.
Visit the official website of Fund An Enterprise for more on how they operate.
CircleUp
CircleUp is another leading crowdfunding site in Nigeria. It helps you connect with organizations and people with resources.
In return, this assists you in the creation of innovative programs that will help you meet unaddressed needs in your community.
For businesses that deal with producing consumer brands, then CircleUp is one of the best fundraising sites around.
MicroVenture
Microventure is an equity crowdfunding investment platform and also a part of the capital markets.
It allows donations from both qualified and non-qualified investors.
The investors give money to the business, and in return, they receive ownership of a small portion of that business.
MicroVenture is subject to financial regulations due to equity crowdfunding. If the company grows, the worth goes up and so do the value of shares.
Learn more about Micro Venture platform
Indiegogo
This is another crowdfunding platform that encourages people to fund their business ideas and projects.
It allows small enterprises and startups to discover innovations in designs as well as generate pre-sales and get a response from first adopters before manufacturing their products.
Indiegogo operates on a reward grounded scheme, whereby the investors or the clients willing to donate, give money and receive a gift rather than an equity crowdfunding investment.
Learn more about ways cooperative societies can help you reach your financial goals in this detailed post.
Kickstarter
Kickstarter is also one of the crowdfunding sites in Nigeria. It is a great fundraising site for musicians, writers, artists, and designers.
It helps them to bring their projects to life. The project creators offer entertainments, aids, and products which trigger people to give out funds.
For project creation, you need to set a minimum amount for funding your goal because if your project does not reach the target, you will not obtain the funds.
Hence as a project creator, you need to create a budget by making a list of all the expenses, consider the people familiar with your work, set deadlines and then expand your goals.
If your project will receive funds successfully, Kickstarter takes five percent fee of the collected funds; there will also be a three to five percent fee for the payment processors.
Meanwhile, you can try out these 11 loan apps in Nigeria for fast cash needs
Crowdfunding Sites In Nigeria (Summary)
It appears easy to sign up to any funding raising site and express your need for funds, but it is not easy to decide on the best crowdfunding sites in Nigeria.
You can end up having nothing if you fail to hit the target while using some of the crowdfunding websites.
That means you will waste your time running something that eventually fails.
You may ask, is crowdfunding for a small business or startup? (wondering what’s the difference right?
Learn more about that is this article titled; are you building a small business or startup?
Other fundraising sites like equity crowdfunding investment have proficient investors who contribute and may add success to your project or business.
Therefore, always consider hiring a professional to help you present your idea. An excellent presentation attracts a successful crowdfunding campaign.
Crowdfunding sites in Nigeria have stood up to funding challenges and proven to be valuable for small businesses and startups to raise money.