Crowdfunding is ending the year in its most “2025” form: platform innovation + community rounds + hard regulator warnings + fraud risk + politics, all at the same time.
1) US investment crowdfunding: December is moving, but the market is concentrated
KingsCrowd’s funding report for the week ending 12/13/2025 shows $12.2M raised in December (to-date at that point), with Wefunder, StartEngine, and DealMaker Securities accounting for 64% of commitments.
That concentration is the headline. It tells us three things:
Distribution is everything. The portals with the strongest funnels keep winning.
The “long tail” is struggling. Newer/smaller portals need a niche or they’ll drown in CAC.
Issuers must bring their own audience. If you don’t show up with a community, the market won’t magically donate one.
Crowdfunding Weekly takeaway: If you’re an issuer planning Q1 2026, you should assume a tougher environment for “cold traffic” raises. Plan on a community-driven raise, not a platform-driven raise.
2) New Reg CF campaign theme: “financial products” raising like startups
A recent PR launch from AMARA is a clear example of how Reg CF continues to expand beyond classic “startup equity” and into financial products + loyalty economics. AMARA announced a premium card and “liquid rewards” platform ahead of 2026, while noting its Reg CF offering is being conducted through DealMaker Securities.
We’re increasingly seeing fintech-style consumer products treat Reg CF like a community-backed go-to-market strategy.
But it also raises a key investor question: are you investing in a company, or in a complex financial flywheel that needs perfect execution to work?
Crowdfunding Weekly takeaway: Expect more “financial product” issuers in 2026. Investors should dial up diligence on unit economics, regulatory exposure, and customer acquisition cost.
3) Fresh Reg CF/WeFunder action: Totem launches with $1.12M already committed
On the issuer side, Totem announced the launch of a community equity crowdfunding campaign on Wefunder, stating $1.12M already committed and targeting $2M to expand distribution, build a recurring revenue model, and grow the team.
This is the modern pattern:
Start with committed capital (or at least strong early momentum),
use crowdfunding as a public-facing proof signal,
and stack that momentum into partnerships, press, and follow-on capital.
Crowdfunding Weekly takeaway: The best campaigns increasingly don’t start at zero. The “show up and hope” era is over.
4) A major social equity crowdfund tightens the window: Fanbase signals round closure
Social platform Fanbase announced it will close its current equity crowdfunding round, per a PR distribution carried by Morningstar/PR Newswire.
Round-closure announcements matter because they often trigger:
urgency among fence-sitters,
last-minute investor Q&A scrutiny,
and (quietly) a signal that the issuer believes it’s hit the point of diminishing returns on the crowd funnel.
Crowdfunding Weekly takeaway: “Closing soon” can boost conversions, but if your disclosures and comms aren’t dialed in, it can also amplify skepticism. Urgency without clarity backfires.
5) France’s AMF puts retail investors on notice: “extreme caution”
The Autorité des marchés financiers (AMF) has published a warning urging investors to exercise “extreme caution” due to risks of project owner default or crowdfunding platform failure.
Even though crowdfunding is regulated in Europe, the AMF’s message is blunt: investors can lose all or part of their capital, and platform failure is not theoretical.
Why this hits right now:
European crowdfunding has been moving into its “grown-up phase” (more rules, more structure),
but regulators are clearly worried that retail optimism is still outrunning risk awareness.
Crowdfunding Weekly takeaway: 2026 is shaping up to be a year where investor education becomes a competitive moat. Platforms that treat risk warnings as “legal footer text” will get punished by regulators and the market.
6) New Zealand: FMA investigation + interim liquidators, a reminder that “investment opportunity” isn’t always investing.
New Zealand’s Financial Markets Authority (FMA) confirmed it is investigating Chance Voight Investment Corporation and associated entities; the court appointed PwC as interim liquidators over multiple entities effective 10 December 2025.
This isn’t “crowdfunding” in the narrow portal sense, but it’s absolutely part of the broader reality: retail investors are constantly pitched online “investment” stories that mimic crowdfunding’s accessibility, often without equivalent transparency.
Crowdfunding Weekly takeaway: Every time a regulator steps in like this, it raises the compliance bar for legitimate platforms too. The bad actors make the whole ecosystem pay higher trust taxes.
7) Donation crowdfunding: GoFundMe’s 2025 data shows scale, and growing pressure
GoFundMe released its 2025 Year in Help report, noting nearly 80 million donations in 2025, and highlighting trends such as essential-expense fundraising growth and $330M raised for natural disaster relief.
It also mentions GoFundMe’s continued rollout of product changes (including Giving Funds) and widespread use of AI-enabled tools on the platform.
This is the “good news” side: crowdfunding remains one of the fastest ways for communities to respond to crises and needs at scale.
But the uncomfortable counterpoint is obvious:
When essential-expense fundraising rises, it’s also a signal of cost-of-living stress and gaps in social safety nets.
Scale brings fraud attempts. If you’re the largest donation platform on earth, you’re also the largest target.
Crowdfunding Weekly takeaway: Donation crowdfunding is now infrastructure. That means expectations around verification, transparency, and fraud prevention are only going to increase.
8) Political fundraising goes platform-native: PublicSquare launches PSQ Impact
PublicSquare announced PSQ Impact, a fundraising platform positioned for conservative campaigns and “values-aligned nonprofits,” emphasizing features like AI reporting, crypto donations, and donor privacy.
Why it matters to the crowdfunding industry:
It’s another sign that “fundraising platforms” are fragmenting into ideological verticals.
Whether you love or hate the politics, it’s a strategic truth: platforms increasingly win by owning a tribe, not by being neutral pipes.
Crowdfunding Weekly takeaway: 2026 will likely see more niche fundraising platforms built for specific identities, causes, or communities. The opportunity is focus. The risk is polarization and reputational blowback.
The week’s big picture
This week’s signal is simple: crowdfunding is becoming more specialized and more regulated at the same time.
Investment crowdfunding is still functioning, but the market is concentrated and momentum-driven.
Regulators are openly warning retail investors about defaults and platform risk so expect more scrutiny.
Donation crowdfunding is massive and growing, but it’s under pressure to behave like critical infrastructure.
Fundraising platforms are splintering into tribes (including politics) which will reshape distribution strategies in 2026.
If you’re a founder, platform, or investor: next year’s winners won’t be the loudest. They’ll be the ones with real distribution, clean compliance, and trust baked into the product.