I had heard the term "crowdfunding" used quite a few time, so I decided to Google it and see what I could come up with. Here is the definition of crowdfunding according to Google.
crowd·fund·ing
ˈkroudˌfəndiNG/
noun
noun: crowdfunding; noun: crowd-funding
1.
the
practice of funding a project or venture by raising many small amounts
of money from a large number of people, typically via the Internet.
"musicians, filmmakers, and artists have successfully raised funds and fostered awareness through crowdfunding"