Crowdfunding is the practice of raising money for a business (a startup or a growing business). The money is collected from a group of people through networking via social media or crowdfunding platforms. There are crowdfunding websites where the fundraisers and the crowd interact. Besides, all the financial pledges are made and collected in the crowdfunding platforms. Thus, you need an online community to succeed with crowdfunding. Since there are investors on these platforms, entrepreneurs can pitch their ideas and raise hundreds of thousands to millions of dollars. Remember, you will have to pay a fee as an entrepreneur if you succeed in making money from crowdfunding via the platform.