CASHWISE C.E.OBest Crowdfunding Platforms in Nigeria 2023-2024:
Looking for a way to secure funds for your new business, cover some unexpected expenses, or kick off a project you’ve been dreaming of? You’re in the right place!
Crowdfunding has become a buzzword in recent years, and it’s really catching on in places like Nigeria.
So what’s crowdfunding all about? It’s basically a collective effort where people pool their money to support a specific cause, project, or even a business venture.
And the best part? All of this usually happens online, making it easy and convenient.
A crowdfunding platform serves as the middleman, linking those who want to contribute money with those in need of funds.
This way, you don’t have to solely rely on traditional ways of raising capital like bank loans or investor funding.
In this blog post, we’ll dig deep into Nigeria’s crowdfunding scene.
We’ll explore the various kinds of crowdfunding out there and spotlight the top platforms in Nigeria you should know about.
Plus, we’ll give you tips on how to successfully secure funding from these platforms.
So let’s dive in and get you funded!
5 Best Crowdfunding Platforms in Nigeria 2023-2024
The listed below are the top crowdfunding sites in Nigeria 2023;
- NaijaFund
- Fundanenterprise
- QuickRaiz
- Microventures
- GoFundMe
NaijaFund
NaijaFund stands out as a go-to crowdfunding hub in Nigeria, and for good reasons.
This platform is a versatile fundraising tool, perfect for anything from kick-starting your business venture to covering emergency expenses.
The sign-up process on NaijaFund is a breeze, allowing you to set up your funding campaign in no time.
And don’t worry if you’re new to crowdfunding; the platform is user-friendly, making it easy even for first-timers to navigate.
But what’s the catch? Well, like most crowdfunding platforms, NaijaFund takes a cut from each successfully funded project.
On this platform, they charge a service fee of 10%. While this might seem like a chunk of your hard-earned money, it’s a small price to pay for the exposure and fundraising capabilities you get in return.
In addition to its ease of use and versatility, NaijaFund also offers various payment options, widening the pool of potential contributors.
This makes it even easier for you to reach your funding goals. So if you’re on the hunt for a reliable platform to raise money in Nigeria, NaijaFund is definitely worth a look.
Fundanenterprise
Fundanenterprise is also one of the best fundraising sites in Nigeria.
Managed by the MSME Crowd Funding Foundation, Fundanenterprise is far from just another crowdfunding site.
This platform is all about donations, tailored to help startups and smaller businesses not only in Nigeria but all across Africa.
Thinking about funding your fresh startup or maybe growing your current business? Fundanenterprise is a solid pick.
One cool thing is their focus on grants. That’s perfect if you’re not keen on giving away shares of your company or getting stuck with loan repayments.
Don’t stress if you’re not a tech guru; the platform is super easy to use.
And since it’s backed by the reputable MSME Crowd Funding Foundation, you know you’re in safe hands. They’re committed to helping smaller businesses succeed.
So, if you’re after a reliable way to get that financial boost for your business, Fundanenterprise should be on your radar.
QuickRaiz
QuickRaiz also emerges as one of the top crowdfunding platforms in Nigeria.
Debuted in 2018, QuickRaiz has quickly established itself as a dependable crowdfunding platform in Nigeria for all sorts of needs, be it kickstarting your business, covering medical costs, funding your education, supporting a charity, or even backing a community project.
One standout feature of QuickRaiz is the direct payment setup. The funds you raise are sent straight to you or the person you’re raising money for.
What’s more, if you feel like you need more time to reach your fundraising goal, it’s easy to extend the campaign duration and adjust deadlines before the original end date.
Signing up for a QuickRaiz account and launching your fundraising campaign won’t cost you a dime.
But keep in mind, once your project successfully reaches its funding target, a 5% fee will be deducted from the total amount raised before the funds are transferred to you.
Given its flexibility, ease of use, and low service fee, QuickRaiz has become an appealing option for many Nigerians in search of a quick and effective way to secure funds.
So if you’re scouting for a platform that combines reliability with convenience, QuickRaiz should definitely make your shortlist.
Microventures
This list won’t be completed if I don’t include Microventures as one of the reliable crowdfunding platforms in Nigeria.
Established in 2009, Microventures isn’t just another crowdfunding platform; it’s a standout for equity crowdfunding, not just in Nigeria, but globally.
What sets it apart is its focus on connecting startups with investors worldwide who are looking for promising ventures to back for a potential return on investment.
Getting your business funded on Microventures could mean raising millions, provided you meet their specific criteria.
The platform conducts a thorough assessment, looking at various aspects like the competence of your team, your business traction, market potential, and more to determine if your venture is a good match for their investment community.
Once you make the cut, you’re in for a six-week funding ride. After your campaign wraps up successfully, expect to see the investment wired to your account in about two weeks.
Microventures is a little more involved than some other crowdfunding platforms, but that’s a good thing if you’re serious about your business.
It offers a unique opportunity for startups to tap into a global network of investors, making it a top-tier choice for entrepreneurs who mean business.
So if you’re aiming high and have a solid business proposal, Microventures should be on your radar.
GoFundMe
GoFundMe is the last in our list of top fundraising sites in Nigeria.
GoFundMe is a household name in the crowdfunding world, and it’s got a strong presence in Nigeria too.
It’s a versatile platform, open to all, whether you’re an individual, a team, or an organization, GoFundMe has got you covered.
The process to start fundraising on GoFundMe is pretty straightforward.
Just create an account, set your fundraising target, share your story to connect with potential donors, and add some engaging visuals like photos or videos.
Once that’s all set, you’re ready to start collecting donations.
Security is a big deal on GoFundMe; the platform makes sure your fundraising is safe and secure. However, they do charge a fee of around 2.9% per donation.
So, every time someone contributes to your cause, GoFundMe takes a small cut, and you get the remainder.
What’s great about GoFundMe is its international reach.
Your campaign can attract donors from all over the world, not just Nigeria, increasing your chances of hitting your fundraising goals.
So, if you’re looking for a reliable and globally recognized platform for raising money, GoFundMe should definitely be on your list.
FAQs on Best Crowdfunding Platforms in Nigeria
Is there any crowdfunding platform in Nigeria?
Yes, there is a lot of crowdfunding sites in Nigeria you can depend on. From GofundMe to NaijaFund and other ones listed above.
Which fundraising platform is best for Nigeria?
According to our research, the best crowdfunding platform in Nigeria is NaijaFund. However, it is best to check out their terms and conditions before venture into their site.
What Makes a Crowdfunding Platforms in Nigeria Reliable?
Well, a trustworthy crowdfunding platform is all about a safe space where you and the donors can interact freely.
You’d want to look for clear info on fees, good customer service, and a solid history of successful campaigns.
Reading reviews and checking out what other users are saying can also give you some good insights.
Can I Trust These Platforms with My Money?
Absolutely, most big-name platforms like GoFundMe and NaijaFund have strong security measures to keep your transactions safe.
But hey, it’s also a good idea to do your own homework on the fundraiser you’re thinking of supporting, just to be extra sure.
How Do I Choose the Right Platform for My Needs?
Think about what you’re raising money for first. A new business? A personal emergency? Each platform has its own vibe and specializes in different kinds of fundraising.
Also, check out the fees and how easy it is to use the platform. You don’t want to be stuck with a complicated site when you’ve got money to raise, right?
How Long Does It Usually Take to Raise Funds?
It really depends on how compelling your project is and how much you’re pushing it out there.
Some platforms like Microventures give you a ballpark of around six weeks, but others, like QuickRaiz, are a bit more flexible on the timeline.
Are There Any Hidden Fees I Should Be Aware Of?
Most platforms are upfront about the fees, but always read the nitty-gritty details. Some might take a cut as a percentage of what you raise, while others have a flat fee.
And don’t forget, there could be extra costs like transaction fees when you’re pulling out your funds.
Can I Extend My Fundraising Campaign If I Need More Time?
Yes, many platforms let you stretch out the campaign if you’re running behind. QuickRaiz is a good example.
But you’ll want to double-check this in the terms and conditions of whichever platform you go with, as rules can vary.
Is It Easy to Set Up a Campaign?
Most times, setting up a campaign is a breeze. Platforms like GoFundMe make it super simple.
You sign up, set your goal, tell your story, throw in some pics or a video, and boom—you’re ready to go!
What Happens If I Don’t Reach My Fundraising Goal?
Each platform has its own rules. Some are ‘all-or-nothing,’ meaning you only get the cash if you hit your target.
Others let you keep whatever you’ve raised, but they’ll still take their cut. Best to dig into the fine print so you know what you’re getting into.
Wrapping Up Crowdfunding Platforms in Nigeria
Crowdfunding sites in Nigeria are changing the game when it comes to getting financing for your projects, whether it’s a new business, a community endeavor, or even personal needs.
As the scene keeps growing, we’re optimistic that crowdfunding will turn into a go-to and reliable way for Nigerians to fund their dreams.
This could open doors for aspiring entrepreneurs and folks with great ideas but not enough cash to make them happen.
That’s why we’ve put in the legwork to give you a rundown of the top 5 crowdfunding platforms and apps in Nigeria. We’re here to help you find the best place to turn your big idea into reality.
CASHWISE C.E.O