Crowdfunding platforms: a systematic literature review and a bibliometric analysis

Abstract

Due to the financial crisis caused by the COVID-19 pandemic, entrepreneurs and small businesses have had multiple difficulties accessing conventional types of financing. Crowdfunding platforms have gained popularity as an alternative means of online financing. The main objective of this research is to analyze the most important articles that may influence future studies on crowdfunding platforms in Latin America. This article analyzes the Scopus and Web of Science databases considering three of the four categories of crowdfunding based on capital flows: Reward, Equity, and Lending, using a systematic review of the literature and bibliometric analysis. This research resulted in a total of 1032 articles which, after applying the appropriate criteria, resulted in 55 selected articles. The results show that the number of studies conducted in the field of crowdfunding platforms is increasing. Crowdfunding platforms provide a great opportunity for entrepreneurs to obtain alternative financing and a new way for investors to invest their capital. Future lines of research include conducting studies that involve a stronger focus on the technology used in crowdfunding platforms. With systematized access to information, the different actors can understand how the dynamics of crowdfunding platforms can stimulate the development of business projects, as well as the decision-making factor when investing. This document is of great interest to researchers and professionals who wish to increase their knowledge of crowdfunding platforms, especially those of Reward, Equity, and Lending, in addition to gaining knowledge on relevant conclusions and suggestions for future research.