Kiva appeared in 2005, after Finobra began. Kiva collects individual lender money and uses microfinance intermediaries to disburse and collect funds. Intermediaries collect interest, sometimes exorbitant, to defray costs. Kickstarter began in 2009. Investors in both cases do not profit from backing projects. Seedrs, a European company, does equity crowdfunding more like Finobra’s concept, with the exception that Finobra functioned as curator and managing intermediary.

Alternate forms of finance have been around even earlier. Today there are more than 2000 crowdfunding websites. This suggests that many view crowdsourcing as an Internet business opportunity. Finobra was created with a different purpose. My next post will elaborate…

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