From the Crowd to the Consumer: Achieving Affordability through Crowdfunding
Crowdfunding is appealing not only for its potential to unlock new sources of funding, but also for its ability to operate beyond the demands and expectations of conventional private and public sources of capital. Several companies catering to base of the pyramid (BOP) markets, including clean cooking companies, have been successful in raising short-term loans through crowdfunding platforms. These diverse crowdfunding models each have individual strengths and challenges, and together offer an interesting set of alternative financing pathways. While still considered relatively novel, key lessons are emerging which will be useful for businesses seeking access to new forms of funding. In this session, crowdfunding platforms and clean cooking companies will discuss building innovative, in-house consumer finance programs and leveraging alternative funding avenues to support such programs.