Crowdfunding, a practice which allows startup firms to raise money from small investors over the Internet, picked up steam in 2012 with some $2.7 billion invested, a study showed Monday.
The study released by the research firm massolution said the amount raised last year was up 81 percent from 2011.
North America and Europe accounted for over 95 percent of the total market.
The group surveyed some 308 different crowdfunding platforms, including those allowing investors to make donations and sometimes receive rewards, and others based on lending or equity investments.
It found donation- and reward-based crowdfunding grew 85 percent to $1.4 billion last year, and lending-based crowdfunding grew 111 percent to $1.2 billion.
Read more at: Phys.org