When I decided to launch a crowdfunding business in 2013, various people warned me that it might turn out to be a fad - a flash in the pan. The doubters appear to have been wrong. Crowdfunding in all its forms is going from strength to strength and it is definitely here to stay.

Of course, crowdfunding is not a new concept. Stock markets are in effect a form of crowdfunding with individuals or institutions having fractional ownership of companies. Property funds are also a form of crowdfunding - investors put their money into the fund and the fund then buys a large office block or a shopping centre. Electronic platforms have now made it possible for 'the crowd' to fund individual projects like the making of a short film (Kickstarter), provide equity finance to start-up businesses (Crowdcube and Seedrs) or lend money to companies (Money&Co. and Funding Circle). Or you can lend money to individuals (Zopa).