Crowdfunding platforms raised $16.2 billion in 2014, a 167% increase over the $6.1 billion raised in 2013. North America still accounts for the largest market but 2014 saw Asia overtake Europe, by a small margin. The growth in funding volumes continued to be primarily driven by lending-based crowdfunding, but significant annual growth in equity-based crowdfunding and increased adoption of newer hybrid and royalty-based models indicates that the allocation of funding volume across different models will be more highly distributed over the coming years. Crowdfunding’s popularity as a way to fund creative, philanthropic, and social endeavors still prevails but crowdfunding’s application for entrepreneurial ventures began to gain significant traction over the last few years.