8 Best Crowdfunding Sites for Small Businesses in 2024

Indiegogo, a leading rewards-based crowdfunding platform founded in 2008, provides entrepreneurs with the opportunity to raise startup capital and promote their products or services to an audience of early investors. Each month, millions of people visit Indiegogo and over 19,000 campaigns take place.

It caters to users across all business industries—whether it be tech and innovation, creative works, or community projects. Campaigns can last up to 60 days and can be either fixed or variable, meaning you can either set an “all or nothing” target or keep any funds raised despite the amount.

What’s unique about Indiegogo is that it is more than just a crowdfunding resource; it offers pre-launch assistance and allows investors to partake in stages from business ideation to manufacturing. Educational resources on how to build your campaign and aim for success are also available. Another noteworthy feature is the expert’s directory, which enables entrepreneurs to seek support from experienced investors to help further promote their ideas and business goals.

What makes Indiegogo top our list of the best crowdfunding platforms for small businesses is the industry and financial flexibility it provides. Consider it if you’re looking for a trusted platform that’s community-oriented with a wide range of potential investors. Keep in mind that it is a rewards-based method of crowdfunding and is best suited for businesses unable to offer equity stakes or partake in debt-based methods.

Its flexible option allows businesses to continue to raise funds and receive monthly disbursements, or rather if your product requires a set timeline, a fixed option. Fees are competitive overall—so Indiegogo is a good place to start when looking at options to crowdfund your business.

Kickstarter was founded in 2009 and designed to foster the creative visions of startups creating something to share with others. It has since been a trusted crowdfunding resource in which startups can source funds from a diverse group of donors to help grow their businesses. With a 41% success rate across 15 project categories—including art, film, dance, technology, and design—Kickstarter has plentiful success stories for a wide variety of businesses.

Campaigns can last up to 60 days and take an “all-or-nothing” funding approach. It has a different approach from Indiegogo, which allows you to keep all funds raised. However, Kickstarter’s large audience base provides ample fundraising opportunities.

Kickstarter is a popular and reliable crowdfunding option for startups looking to raise capital without having to give up equity or pay back funds. It offers competitive fees and has a vast audience to promote your campaign. That being said, you must meet your designated funding target to reap the benefits of your fundraising efforts.

It’s our best pick for growing businesses that have limited resources and are looking to both market their product and obtain funding. Keep in mind that Kickstarter supports creativity and is only accessible to businesses that develop something to be shared with others.

GoFundMe was founded in 2010 and has since grown as a popular donation-based crowdfunding platform with a large following. It hosts individual campaigns mainly for personal reasons; however, it can be utilized to source funds for various business purposes.

The site attracts a broad audience and claims to receive on average a donation every second. It’s simple to use, as no platform fees are required to launch a campaign. Only a transaction fee of 2.9% plus $0.30 is applicable, which makes for competitive fees and terms of use in comparison to other crowdfunding sites listed in this guide; Funding Circle, StartEngine, and Mightycause also don’t carry platform fees.

GoFundMe offers 24/7 customer support and also provides resources to help promote a successful campaign across the site.

We chose GoFundMe as the best option for individual fundraising efforts due to its ease of use and popularity. It requires no returns to those who donate, and all funds can be withdrawn immediately—regardless if you meet your initial fundraising target.

Another perk is that there’s no time limit as to how long you can run your campaign. This is particularly helpful for new startup businesses needing time to gain a following. That being said, GoFundMe tends to be more successful for businesses that are already established but can attract an audience.

Funding Circle offers loans with funds provided by investors to businesses seeking capital. Since launching in 2010, it has facilitated over $20 billion in funding to more than 135,000 businesses. In contrast to the other sites in this guide, it acts as a debt-based crowdfunding source but differs from traditional banking practices by connecting businesses with institutional investors.

Like any loan, proceeds are expected to be repaid monthly, and loan amounts and terms can differ depending on the agreement. There are no prepayment penalties or application fees to find out if you’re eligible; however, there is an origination fee that can range anywhere from 4.49% to 10.49%. Eligibility criteria require at least two years in business, annual revenue of $50,000, a minimum 660 FICO score, and no bankruptcies within the last seven years.

Loan proceeds can then be utilized to cover expenses and support the growth or expansion of a high-potential business that can provide returns to its investors.

Funding Circle is our best pick for debt-based crowdfunding, as it’s a trusted source that offers structure and networking support for small businesses needing financing. While the qualification requirements can be more rigorous, it’s a viable option for businesses seeking a loan-type structure without having to apply for a small business loan through a bank.

StartEngine is a relatively new crowdfunding platform, founded in 2015. It’s notably one of the largest equity crowdfunding sites, with a large network of over 1.8 million experienced investors. To date, it’s raised over $1.2 billion over various funding rounds and has a dedicated team to help entrepreneurs strategically market their campaigns and seek the best returns.

The site supports crowdfunding efforts for startups from a large variety of industries and claims that 90% of offerings reach their minimum funding goal. Notably, it also offers rolling closes, which means funds can be withdrawn for immediate use during the campaign. However, this is only applicable after you’ve reached 120% of the target since funds will be returned to investors within 10 business days if you miss your funding goal.

There are two tiers in which you can campaign:

1. Reg CF allows startups to raise up to $5 million per year through platforms registered with the SEC Securities and Exchange Commission  and can be launched in four to six weeks.

• Costs to invest range from $4,000 to $10,000.
• No upfront costs if your business is incorporated as a Corporation and your maximum raise limit is set to $107,000 to start.

2. Reg A+ provides up to $75 million in crowdfunding. It usually takes a minimum of six months to complete this method. Businesses will also need to provide legal documentation speaking to the incorporation of a business, alongside audited financials.

• Costs to invest run anywhere from $50,000 to $100,000.

StartEngine is a reputable crowdfunding site that connects businesses with seasoned entrepreneurs, making it one of our best crowdfunding sites for small businesses working with experienced investors. While sites like Funding Circle can also connect you with credible investors, StartEngine lets you choose to offer equity instead of debt as a return. While it is a bit costly in comparison to other crowdfunding platforms, it’s a viable resource for established businesses seeking capital to further grow their business.

It is accessible to a wide variety of industries and has a solid track record. It also offers a dedicated team that will support businesses from the beginning to end of their campaign, from marketing to their investor audience to how to help a valuable return.

Patreon, founded in 2013, is a crowdfunding platform designated for creatives. It offers a unique crowdfunding structure that is essentially rewards-based; patrons purchase a subscription offered by the creator and, in turn, receive content and other benefits as outlined by their membership. Instead of an investment or one-time donation, businesses can use Patreon to obtain funds repeatedly without a funding target or timeline.

A Patreon account is free to create, but there is a monthly fee depending on the tier you choose. Each offers varying benefits and tools to the creator.

• Founders: 5% per month
• Pro: 8% per month
• Premium: 12% per month

Patreon is suitable for businesses generating creative content, therefore ranking as our best crowdfunding site for creatives. It’s a unique funding opportunity for businesses planning to use it to market their services consistently and to provide fresh content regularly.

As such, funding will fluctuate based on the subscriber count and the types of memberships the creator chooses to offer. Overall, Patreon is a great way to source recurring income if you’re not seeking a one-off fundraising opportunity.

Fundable was founded in 2012 with the intent of helping startups continue to grow their business through rewards- and equity-based crowdfunding. Since its inception, over $700 million in funds have been raised with the help of over 20,000 accredited investors.

It offers both equity and rewards-based methods, along with the option to self-manage your campaign. You can also choose to partake in its Funding Accelerator option, which provides campaign support and resources—such as a pitch deck, investor outreach assistance, and monitoring tools to promote a successful campaign further—all of which can be useful, given that Fundable offers an all-or-nothing funding model.

There’s a $179 monthly subscription fee required to host your campaign, along with a transaction fee of 3% plus $0.30. While the transaction fee is comparable to other crowdfunding sites, the monthly subscription cost can be expensive over time. However, it’s worth noting this helps cut the competition of other businesses seeking a crowdfunding platform.

Fundable is best suited for scalable startups that already have a working product and following. It presents the opportunity to obtain funding to scale a business further, whether it be for product development or team growth. While available to many businesses across various industries, it may be of particular interest to tech startups, as there are many success stories on Fundable’s site referencing the deployment of tech products.

Mightycause is a donation-based crowdfunding platform that was founded in 2006 to aid nonprofits by connecting them with interested donors. It’s a unique platform in that it serves as a software service that can be utilized by a business to promote its fundraising efforts on its own site and is compatible with other CRM platforms. There’s an unlimited variety of campaigns applicable, from peer-to-peer to team and event fundraising.

It offers two product packages, and each has tools such as donation management, a widget for your site, and other analytics tools.

• Essentials: $79 a month; includes basics such as profile management, donor data, and unlimited campaign opportunities
• Accelerate: $119 monthly; includes all elements of the Essentials monthly plan, along with integration opportunities and communication channels

Mightycause offers flexibility and is a low-cost option for nonprofits looking to market their campaigns. Rates are highly favorable in contrast with similar donation-based platforms, and its transaction fee starts at 0.95% + $0.29, although it can vary slightly depending on the payment vendor.

Mightycause is an innovative site specific to helping nonprofits with their fundraising efforts. It’s one of our best crowdfunding sites for small businesses due to its price point and unique fundraising abilities. It can be utilized by nonprofits needing a platform that can support ongoing donation campaigns and help market their needs for further outreach.