Meaning of the word crowdfunding in English

What does crowdfunding mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

crowdfunding

US /ˈkraʊd.fʌn.dɪŋ/
UK /ˈkraʊdˌfʌn.dɪŋ/
"crowdfunding" picture

Noun

the practice of funding a project or venture by raising money from a large number of people, typically via the internet

Example:
They raised enough money through crowdfunding to start their new business.
Many independent films rely on crowdfunding for their production budgets.