50 Essential Questions Before Building a Crowdfunding Platform

Crowdfunding has transformed the way ideas, businesses and communities raise capital. From creative projects to real estate investments and early-stage startups, crowdfunding platforms have become trusted bridges between those who need funding and those willing to provide it.

But while the market looks promising, launching a crowdfunding platform is far from a plug-and-play project. Behind the glossy user interface lies a web of strategic, regulatory, technological and operational decisions, each of which can make or break your success.

The truth is, too many founders rush into development with a vision for features but without a clear understanding of the bigger picture:

• Which business model is sustainable?
• What regulatory approvals are needed?
• How will compliance, security and investor protection be ensured?
• How will you attract and retain both issuers and investors?

If you ask the right questions upfront and continue to revisit them as you grow, you will avoid costly mistakes and build a platform that will succeed in the long term. 

We’ve created a self-assessment crowdfunding business checklist for you that challenges you to reflect on the 50 essential questions across strategy, compliance, technology, user experience and operations. 

These questions will help you identify gaps and learn where you may need expert guidance before moving forward with developing a crowdfunding platform. 

Business background

1. Do I have a clear understanding of my business? What do I need to prepare a clear business plan?
2. What is the platform’s geography? Will it be domestic or international?
3. What are the main customer pains that my platform solves?
4. What are the primary business goals, mission and vision of my platform?
5. How do I differentiate from competitors? What makes my crowdfunding platform unique compared to others?
6. What do I dislike about my competitors that I can do better?
7. What business problems do I need help with (e.g. marketing, compliance, tech, funding, management)?
8. Do I focus on a niche market (e.g., real estate, creative projects, SMEs, etc.) or is it better to accept a wide range of projects?
9. Shall I implement several investment flows, such as donation-based, reward-based, debt-based and equity-based, or focus on a single flow?
10. Am I going to expand the platform’s functionality in the near future or keep it simple and tailored to a functional prototype, MVP?

Platform features and functionality

11. What are the user roles on the platform (investor, issuer, admin, auditor, regulator, etc.)?
12. What is the expected number of offerings on the platform in the first year?
13. How many investors do I need to fund my first project? What are my expectations for the next 5 years?
14. How do I handle payment processing?
15. Do I need to integrate third-party custodial services?
16. Shall my platform support multi-currency wallets for investors?
17. Which user investment processes are better to implement (e.g., Direct funding mode vs Wallet funding mode)?
18. Will repayments be managed via the platform or through direct settlement between parties (issuers and investors)?
19. What are the repayment schemes for investors? 
20. What is the flow in case of issuers’ defaults? Will they be handled via the platform?
21. How will I earn funds on the platform (e.g., a fee from transactions, a percentage from successful projects, subscription-based, or something else)?
22. Shall I implement the user’s authentication, such as OTP or 2FA?
23. Shall my platform have an electronic signature?
24. Will my platform offer built-in analytics for issuers and investors?
25. Will my platform allow investors to resell or trade their investments on secondary markets?

User experience

26. How will the offerings be created? Should issuers and borrowers be allowed to pitch projects or shall I create them from the admin side?
27. What kind of offering creation process is it better to implement (e.g., out-of-the-box solutions vs customized workflow)?
28. Can I explain my requirements for the platform’s design? Do I have brand guidelines, platform specifications or do they need to be created from scratch?
29. Shall the platform offer in-platform communication tools, such as investor-issuer messaging, discussion boards or similar?

Compliance

30. Are there specific regulatory or compliance requirements that must be strictly met?
31. How shall I handle data privacy and protection (for example, account deletion, anonymization, cookie policy, data storage, encryption, etc)?
32. How will I implement KYC (Know Your Customer) and AML (Anti-Money Laundering) checks for both investors and issuers?
33. How can I ensure compliance with GDPR, CCPA or other local data protection laws?
34. Which tools shall I use to securely store and process sensitive user data (e.g., IDs, bank accounts, investment records)?
35. How will my platform handle tax reporting obligations for issuers and investors? 
36. What procedures do I need to implement to manage investor disputes or complaints?
37. Shall my platform have an option for regulators to access reporting data if requested? If yes, which one?
38. How will I monitor and flag suspicious activity or fraudulent campaigns?
39. Shall I enforce investment limits for different categories of investors (e.g., retail vs accredited) and if so, how can I do it (in compliance with what regulations)?

Technical requirements

40. What is the tech stack that will power the platform (custom-built, white-label, hybrid)?
41. How will my platform scale when the user database grows?
42. Are there any existing systems or tools (e.g., CRM, marketing automation, analytics) that I would like or need to integrate with the new platform?
43. Do I have any data to be imported into the new platform? 
44. Which solutions can I use for backup and recovery of critical data?
45. Do I need a mobile application?
46. Shall I build APIs for partners and third-party integrations?
47. If there are standard WP marketing sites available, shall I use them, or is it better to create and use my own custom website?
48. How will I maintain and upgrade the platform once it is launched?
    

Timelines

49. What is my desired timeline for the project from concept to production launch?
50. Are there any critical deadlines or milestones that need to be met?

Conclusion

If you struggle with many of the answers, that might be a sign that you don’t have to do it alone. Early expert input can save you time, money and frustration later.

If you’re ready to take the next step, the LenderKit team is here to help. We’ve guided businesses like yours through every stage of launching and scaling crowdfunding platforms, from strategy and compliance to technology and growth.

Your platform starts with the right questions. The next step is turning those answers into action. Ready to discuss your project requirements? Get in touch with with us.