Crowdfunding is a type of fundraising method that involves a business listing its product or a project on a platform with a large audience. Individuals from this large audience can contribute relatively small amounts of money to raise a significant amount of capital for the product or project.
There are many crowdfunding platforms for startups to list their product/project on. The way a crowdfunding campaign usually works is by letting a business list their product or project on the platform for a certain period of time like a month or two and set a funding goal for it. Users on the platform can then choose to support and pledge to this project within the set time period.