Since going live in June 2013, the platform has already raised over R400,000 for 20 projects and is driving crowdfunding in South Africa and its focus is on the funding of creative and innovative ventures.Thundafund is expecting that total to grow to as much R1 million over the next three months.
Thundafund’s three year goal, based on extensive global and local research and the sites development, is to have 3400 projects funded, R173 million raised and 10 000 jobs created.
According to Thundafund co-founder Patrick Schofield, “Crowdfunding has the potential to play a significant role in new enterprise development in South Africa and Africa. Thundafund.com is and will be at the leading edge of this wave.”
Crowdfunding has become a global force in funding new business ventures by leveraging the power of social media platforms to create start-up capital. Global funding collected through crowdfunding is expected to reach R50billion this year. Crowdfunding targets range from as little as R5000, up to the mega targets of over R100 million.
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