In this article, I’ll give you a list of crowdfunding sites in Nigeria and compare their features and fees. We will also tell you how to choose the best platform for your needs. By the end of this article, you’ll know more about how crowdfunding works in Nigeria and how to use it to get money for your business or project.
Are you looking for a way to get money in Nigeria for your business or project? Crowdfunding is a way to get money from many people online. This method has become increasingly popular because it lets entrepreneurs get money without going through traditional banks.
You may be a Nigerian and want to know what crowdfunding sites you can use. So, we’ve made a list of the best crowdfunding sites in Nigeria so you can check them out. A crowdfunding platform can help you reach your goals, whether you want to start a new business, support a good cause, or invest in agriculture.
5 Top Crowdfunding Websites in Nigeria
You can use the Nigerian crowdfunding site NaijaFund to get money for your project or business. It’s a place where you can meet investors or other people who might be interested in your idea.
With NaijaFund, you can start a campaign for your business or project and set a goal for how much money you want to raise. You can also give your investors something in return, like discounts or early access to your product or service.
You must pay a fee to use NaijaFund’s platform, but the fees are simple and easy to understand. They also have a team that can help you with your campaign and gives you support as you go.
One of the benefits of using NaijaFund is that Nigerians own it. This means you are helping a local business while raising money for your own project or business. NaijaFund is also clear about how much they charge and how much money they raise, which can give you peace of mind as you work to reach your goal.
If you live in Nigeria and want a crowdfunding site, NaijaFund is a good choice. With their user-friendly platform and helpful team, you have a better chance of getting the money you need to reach your goals.
MicroVentures is a platform for investing in both venture capital and equity crowdfunding. It brings the best of both worlds together. Since 2009, MicroVentures has helped companies like Facebook get money from both accredited and non-accredited investors.
MicroVentures looks at the applicant’s idea, team, traction, market size, and other factors before deciding which company to promote on its website. After that, the company’s website says that the funding process takes six weeks.
MicroVentures is an investment platform for equity crowdfunding. It combines the best parts of venture capital and equity crowdfunding. Since 2009, MicroVentures has helped businesses get money from both accredited and non-accredited investors.
Before choosing a startup to be featured on its site, MicroVentures looks at the applicant’s idea, team, traction, market size, etc. From there, the company’s website says the funding process takes an average of six weeks.
GoFundMe is a website for crowdsourcing money that helps people and organizations raise money. Unlike the other sites on this list, there are better places to raise funds for a business than GoFundMe.
It works best for good causes, projects in the community, and personal interests. For example, Omoyele Sowore, the Nigerian blog Sahara Reporters owner and blogger, used GoFundMe to raise money for his 2019 presidential campaign.
You can use this platform to ask for donations if your idea is for the good of the community or if you are in a situation where you need help.
There is no fee to use GoFundMe, but there is a 2.9 percent fee for each transaction.
Indiegogo is a global platform for crowdfunding that lets people from all over the world fund projects and ideas that are important to them. Before making their products, people and startups can use the site to get pre-sales and feedback from early adopters.
Indiegogo is both a way to raise money and a place to buy and sell new products. Since it began in 2008, it has helped entrepreneurs raise over $1 billion worldwide for more than 650,000 projects.
Indiegogo is a top-rated site for raising money online. It is similar to Kickstarter, but there are some essential differences. This platform helps businesses, artists, non-governmental organizations (NGOs), and other groups raise money for their projects.
One of the best things about Indiegogo is that you can choose between a fixed and a flexible funding goal. Fixed funding is like all-or-nothing on Kickstarter: you need to raise more money to start the project by the end of the fundraising period to get something. But with flexible funding, you can get the money whether or not you reach your goal.
With Indiegogo InDemand, you can keep raising money even after your crowdfunding campaign has ended. There is also the option to ask investors for money for your project in exchange for a share.
Indiegogo has a 5% fee, which does not include payment processing.
Kickstarter is the most popular site for raising money for a cause. Over $4.1 billion has been raised for more than 156,000 projects on Kickstarter.
You can use Kickstarter to raise money for any kind of creative idea you have. It doesn’t matter if you’re a filmmaker, a programmer, a musician, an entrepreneur, or anything else creative.
Most of the time, Kickstarter helps with fundraising through rewards. People supporting the project get things like T-shirts, caps, etc. The better the incentive, the more money someone pledges to help.
On Kickstarter, funding is all or nothing, so you must reach your goal within the time limit, or everyone’s money is returned. Creating a project on Kickstarter is free, but if it gets funded, Kickstarter takes 5% of the money you raise. There will also be fees that range from 3-5%.
Kickstarter works on an “all or nothing” basis. You need to raise more money to start the project by the end of the fundraising. After that, it will return to the people who gave it to you. If you raise the required amount, you get it.
Kickstarter has a 5% fee, which doesn’t include the cost of processing payments.
Why Crowdfunding Is Vital in Nigeria
- Crowdfunding is essential in Nigeria because it gives you a way to get the money that you might not be able to get through traditional banks. With crowdfunding, many people who believe in your idea or project can give you money.
- Crowdfunding allows you to get your business or project off the ground in a country where it can take effort to earn money. In addition, it gives you access to a larger pool of investors or supporters who might be willing to put small amounts of money toward your goal.
- Crowdfunding can also help you prove that people are interested in your idea or project by showing that they want it. This can be very helpful if you want to start a new business or product.
- Crowdfunding can also help you build a group of people who care about your success and want to see you do well. These people can help spread the word about your business or project and get more investors or customers.
Things to Consider When Choosing a Crowdfunding Platform
There are a few things you should think about when choosing a crowdfunding site in Nigeria. These things are:
- Why you’re running this campaign: Think about what kind of project or business you want to fund, and then choose a crowdfunding site that specializes in that area.
- Target audience: Find a crowdfunding site that attracts investors or supporters interested in your project or business.
- Different kinds of crowdfunding exist, like equity-based, donation-based, and rewards-based. Pick the one that fits your needs best.
- Costs and fees: Check each crowdfunding site’s fees and other charges to ensure they fit your budget.
- Eligibility requirements: Make sure you meet your chosen crowdfunding site’s minimum funding goals or verification processes.
- Rates of success: Check out how often the crowdfunding site funds successful campaigns and choose one with a good track record.
- Ratings and Reviews: Read what other users say about the site by looking at their reviews and ratings.
You can choose the best Nigerian crowdfunding site for your business or project by thinking about these things. This makes it more likely that you can get the money you need to reach your goals.
As a digital marketing freelancer in Nigeria, I know how important crowdfunding is for entrepreneurs and new ideas. However, you also need to use the power of digital marketing if you want your business to do well.
Digital marketing can help you spread the word about your crowdfunding campaign to people interested in investing or giving money. You can get people excited about your project and get them to invest in it using social media, email marketing, and other digital tools.
If you are considering crowdfunding in Nigeria, consider incorporating digital marketing into your plan. This can help you stand out from the crowd and get the attention of the right investors or supporters.
To get started with digital marketing, you can talk to a freelance digital marketer like me or use one of the many available online resources. By using digital marketing to spread the word about your crowdfunding campaign, you can make it more likely to succeed and make your ideas come to life.