Top Crowdfunding in Nigeria 2023 Update

Filed in Articles by on October 23, 2023

Crowdfunding in Nigeria is very popular. This is a way people get help from other people online. Are you in dire need of money for a business or project? Here, we have explained everything you need to know about crowdfunding in Nigeria, its types, and its pros and cons.

Crowdfunding in Nigeria

What is CrowdFunding?

Before we get into the various crowdfunding websites, we need to understand what crowdfunding is all about in details. Crowdfunding is simply the raising of money from many people via online platforms.

Importance of Crowdfunding

1. It helps you get monetary help faster than using traditional banks for loans.

2. It gives you access to a large pool of investors who are willing to invest their money in your idea or projects.

3. It gives you an idea of the number of people interested in your idea before you actually start the project. This aspect is helpful for new business.

4. It helps you build a group of supporters who are interested in your idea and the success of it. These people help spread the word about your idea or projects and this helps you gain more investors or customers.

Top Crowdfunding in Nigeria

Whether you’re funding the next startup, a creative venture, or an organization, you’ll find a crowdfunding site below that might just be perfect for your need.

1. NaijaFund

This platform empowers people to raise funds for anything they desire. With the platform, you can connect your social media to your account where you can easily ask people like friends, family members, colleagues and others for monetary help.

It is free to create and NaijaFund will deduct a 10% fee from each donation made to you.

2. MicroVentures

This is an equity funding platform that combines venture capital and equity crowdfunding. MicroVentures came into inception in 2009 and since then, it has been helping businesses get access to capital.

Before a startup is featured on its site, it reviews your idea, market size, team, and other factors. The funding process takes six weeks.


3. GoFundMe

This is another popular website that helps people or organizations raise money. It is best used for community projects and personal interests. Some celebrities have used the GoFundMe to raise money for their needs.

There is a 2.9% fee for any transaction you make on GoFundMe.

4. Indiegogo

Indiegogo empowers people around the world to fund projects and ideas. They offer live crowdfunding and they have a marketplace for innovative products.

Since it came into existence, it has helped many entrepreneurs all over the world raise up to 1 billion dollars.

5. Kickstarter

This website is for creative projects. It is very useful for designers, performers, artists, filmmakers and musicians.

These creatives offer products or services and benefits. With Kickstarter, 5% fee is required to collect funds and the processing fees are between 3-5%.

CSN Team.

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