Norwegian Crowdfunding platforms are members of Fintech Norway
Crowdfunding helps small companies and startups grow
Crowdfunding is a method of raising funds for a project, venture, or cause by collecting small amounts of money from a large number of people, typically via online platforms. It allows creators, entrepreneurs, or charities to bypass traditional funding sources like banks or investors and directly engage with supporters or backers.
The four main categories of crowdfunding are donation, reward, equity, and debt.
Donation
Donation-based crowdfunding is a very effective way for people to support a good cause.
It can, for example, be a fundraising campaign to create a hiking trail in a neighborhood. Some enthusiasts create a crowdfunding project, and then anyone who wants a hiking trail can support the cause by donating a little money based on their ability.
It can also be to support a person in need of help in some form or, for example, to contribute to a band trip.
The key point is that donation-based crowdfunding is about supporting a good cause without receiving something in return that you can take ownership of.
Reward
Reward-based crowdfunding is a great way to fund a new product.
The funding happens when the creator pitches the product and showcases a prototype, such as a new drone. If the customer pre-orders the product, thereby providing the company with enough money to finance production, they often receive a special discount or a unique edition of the product.
The result of a successful campaign is that the creator confirms there is a market for the product and makes enough pre-sales to fund the production.
Equity
An equity-based crowdfunding platform allows businesses to reach a large number of potential investors by making their prospectus digitally available on the platform.
By using video and images, along with text and financial information, it becomes much easier to communicate who they are and what the company will use the funds for.
It’s relatively affordable, generates significant engagement and attention, and the investors often become customers and supporters as well.
Debt
Crowdlending works by many people coming together to provide a loan to a company or individual. It starts with the company or person applying for a loan through the crowdlending platform. The platform then conducts a thorough analysis of the company or individual and sets an interest rate based on the risk.
Once the loan is posted on the platform, people like yourself can choose to lend to the company or individual. Some may invest a few thousand, while others may lend more. When the total of all the loans matches the amount the company or individual wants to borrow, the full amount is paid out.
The company or individual then starts repaying interest and installments to the lenders. The crowdlending platform acts solely as a loan facilitator, meaning it does not take part in the loan but helps lenders provide loans to the company or individual.
FTN’s ambition is for crowdfunding to become as widespread and accepted in Norway as it is in the UK.
Fintech Norway’s crowdfunding vision is that all companies should have access to all types of financing at all times, and that investors should receive a good risk-adjusted return on their investments.
Daniel Isdal Furset
Secretary General @ Fintech Norway
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Matching Fintechs is a variant of the classic ‘matching pairs’ game where you flip or open cards to reveal images or symbols, and try to match all the pairs before the timer runs out.
In this variant, you get to match the logos of various members of Fintech Norway, which are chosen at random at the start of each game.
For each pair you successfully match, you’re rewarded points which will be added to your total score if you win. Your total score is saved across visits, so you can come back later and add to it.
You get 10 points for each pair matched, doubling for every consecutive pair. This adds up to a possible 2550 points if you get all pairs without failing once.
Once you finish, you also get a time bonus worth 10x the number of seconds left on the timer, 30x on medium difficulty, and 100x on hard difficulty.
To start the game you just hit the “Start game” button then click or tap each card to flip.
You can also play using a game controller, in which case the controls are as follows:
