Fintech Credit Market - Crowdfunding: An Evaluation of Market Models

One of the incidences of the emergence and growth of the internet and the vast availability of computing devices across countries of the world today is the increase in innovation. New ways of doing things are now on the rise in all spheres of human endeavours, including financing. In time past, banks used to be the exclusive formal avenues through which individuals and businesses source for funds, but with the growth of the internet coupled with the somewhat loss of tastes/dislike for traditional banks, especially after the global financial crisis, this has changed. Financial services are now being offered by non-banks and even in better, faster and attractive manners. This paper examines Crowdfunding as an alternative way of financing for individuals and entities in Nigeria. Further, the paper evaluates the various Crowdfunding market models, how each one functions, the legal and regulatory treatments of each model as well as the value of credit generated through them.