Crowdfunding as an Innovative Way of Financing Projects by Society Based on the Fintech Industry

Lately, crowdfunding has emerged as an alternative source of raising needed money for different types of projects. This paper provides an overview of crowdfunding topic. It characterizes the main concept, shows its types as well as describes the benefi ts and risks that comes with raising money with the help of the people and Internet. The aim of the article is to show how crowdfunding can contribute to the growth of innovation in the country, especially based on the FinTech industry. The paper outlines the size of transactions value in the crowdfunding market and predicts reasonable growth for the next 5 years.

Lately, crowdfunding has emerged as an alternative source of raising needed money for different types of projects. This paper provides an overview of crowdfunding topic. It characterizes the main concept, shows its types as well as describes the benefi ts and risks that comes with raising money with the help of the people and Internet. The aim of the article is to show how crowdfunding can contribute to the growth of innovation in the country, especially based on the FinTech industry. The paper outlines the size of transactions value in the crowdfunding market and predicts reasonable growth for the next 5 years.