Mr. Shrivastav is the owner of a large fastfood joint. He has just launched an app for mobile users. He has developed a demo and tested his app and wants to launch it in the market. However, he is wondering where to raise the funds to launch his app on a large scale. His advisor Mr. Narayanmurthy has suggested using Crowd Funding.

What is Crowd Funding?

Crowd Funding is funding that is gathered or collected by a business when the management and owners raise funds by holding events that solicit contributions from stakeholders who come for the event.

Onset of Online Crowd Funding
With everything going on the internet, it is no wonder that online crowd funding has shown a great increase. The main reason for this is the high use of social media and the increased usage of social media broadcasting for raising awareness and funds.

How Can I Achieve Crowd Funding?
There are various tools that you can use to achieve Crowd Funding. Let us look at some of them:
App stori
This tool is widely used and gaining in popularity. The app is a crowd sourcing and funding platform that connects mobile app consumers with the developers of the app before the app is launched in the market.

Appsfunder

Appsfunder is a tool for funding apps. The tool is conditional and has an all-or-nothing funding method where projects are either fully funded or no money is transferred. The platform has an Expert Panel where developers can pitch their ideas and get help. This panel rates the developer on the following criteria:

• Innovation

• Technology

• Business potential

• Team

It also allows for the app to be published on the App Store or Google Play.

appsfunder mobile app crowdfunding

AppSplit

This is actually a website. The website has a provision to create campaigns to help you to raise funds for your app. There are three campaign types that are available on this site.

• Crowdsourcing – helps raise funds for your apps

• Marketplace – sells your app source code

• Connect – helps you in talent acquisition

Appsplit mobile app crowdfunding

Kraudmob

This is a web platform which is specific to mobile apps. It allows Crowdfunding and Marketing. Some features of Kraudmob are:

• Start with zero budget

• Promote apps for free

• Marketers meet developers

kraudmob mobile app crowdfunding

Appbackr

This tool is actually a marketplace where those who are interested can crowdinvest in Android and iPhone apps. Investers prefund the future or expected sales of the apps. This way, the investor is able to make a profit because they purchase the app in bulk quantities at wholesale rates and later sell the same when the app is launched in the market. Since they buy at wholesale price and sell at retail price, they make a profit.

appbackr mobile app crowdfunding

There you had it, an overview of some of the existing platforms where you can get funding for your app. You can also try on general platforms like Kickstarter or Indiegogo, but they are very selective in allowing mobile app ideas for crowdfunding.

Once you have funding ready or need to get that MVP app to showcase on the crowdfunding platform, you need to get a mobile app developed. You can hire mobile app developers from TechAhead to bring your app idea to life, or to create an app which can be shown to crowdfunding (or any) investors.

Summary
How to Get Funding for Your App Using Crowdfunding
Article Name
How to Get Funding for Your App Using Crowdfunding
Description
Mobile app idea need considerable amount of funds in order to bring it to life. Learn about the Crowdfunding platforms which can help you raise funds for your mobile app idea.
Author
Publisher Name
TechAhead
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By Shanal Aggarwal- Head of the Business Development and Alliances at TechAhead. He has more than 5 years of experience in business development and consulting, working with global enterprises to enable their mobile and digital strategies.