Gareth Price, Investmint

When the first major crowdfunding platforms emerged over a decade and a half ago, they promised to revolutionise access to funding for everyone from startups to artists and even cash-strapped individuals.

Since then, sites such as Kickstarter, IndieGoGo and SeedInvest have helped thousands of businesses and individuals access funding from ordinary folk looking to invest, lend or donate money. Yet a decade since the launch of the first local crowdfunding platform ThundaFund, the model has failed to gain traction in South Africa.