1. Crowdfunding is collecting small sums of money from multiple people for a specific project, business venture or social cause.
2. It uses a web-based platform or social networking sites to solicit funds for the fundraiser by showcasing the story to potential donors or investors.
3. According to the rules in India, equity-based crowdfunding is illegal, whereas peer-to-peer lending is regulated by the RBI.
4. Community crowdfunding which includes donation based and rewards-based crowdfunding are legal and are quite popular to raise funds for social causes.
5. The crowdfunding websites typically charge a fee for using their platform and services to bring money for the cause.
We found some crowdfunding project here for reference,
https://surbhishop.com/product-category/crowdfunding
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