Is there any difference between crowd funding and peer to peer lending? EXPLAIN briefly.

(b) Difference between Crowd funding and Peer-to-Peer (P2P) lending Crowd funding: In simple terms, crowdfunding means raising money for an individual or organisation from a group of people to fund a project, typically via internet (social media and crowdfunding websites). It generally involves collecting funds from family, friends, strangers, corporates and many more in exchange of equity (known as Equity funding), loans (known as P2P lending) or nothing at all (i.e. donation). This source of funding also helps start-up to substantiate demand for their product before entering into production. Peer-to-Peer (P2P) lending: It is that category of crowdfunding where lenders match with the borrowers in order to provide unsecured loans through online platform. The fund raised are paid back by the borrowers with interest, though this kind of lending involves certain risk of defaults (just as the banks bear in the case of conventional method of lending). Anyone interested in investing money under P2P lending can visit the P2P lending platforms and choose amongst borrowers considering risk & returns. Some of the platforms offering P2P lending are i2iFunding, Lendbox, Faircent, Rupee Circle, etc. Hence, we can say that the crowd funding is a broader concept and P2P lending is basically a part of crowd funding.