Definition

A method of raising money for a project or venture by collecting small amounts of money from a large number of people, typically through online platforms.

Example

The startup successfully launched its new product through crowdfunding, receiving support from thousands of backers.

Conversation

Have you heard about that new crowdfunding project for the local park?

Yeah, I saw it online! It seems like a great idea.

I think it's awesome how people can come together to support it through crowdfunding.

Absolutely! It really shows the community spirit.

Synonyms & Antonyms

Root Explanation

Crowdfunding is formed from "crowd" (from Old English "crūda", meaning a group of people) and "funding" (from the verb "fund", which comes from Latin "fundare", meaning to establish or lay a foundation). The term refers to the act of gathering financial contributions from a large group of people to support a project or venture.

Memory Tip

Think of a 'group of people' ('crowd') coming together to 'establish' or 'support' something financially — that's what crowdfunding means.

Visually Confused Words