Crowdfunding is an alternative way for people to fund projects, by raising many various amounts of money from a wide range of people.
Pozible provides the platform for project creators to present their ideas to a connected audience, worldwide. If people love what you’re creating, they can support it by pledging money. In return, project creators offer rewards matched to the level of funding commitment.
Project creators set up a page where they outline their project idea. They set a funding amount they need to realise this, a timeframe and rewards they can offer to people in exchange for financial support.
Supporters then pledge to the campaign during the timeframe. The project creator needs enough supporters in this time to hit their target amount.
If the project doesn’t reach the target amount within the time limit, none of the pledges are processed and the project creator gets nothing.
If the project reaches its funding target, the pledges are processed. The creator now delivers any rewards chosen by their supporters, and has the funds to create their project!
Learn more about crowdfunding through our knowledge centre.