Crowdfunding has grown significantly in the last few years, especially in the United States and Europe. The equity crowdfunding market is valued around $1.7 billion annually with total value of deals invested per year to growth to reach $5 billion by 2022. Much of this growth can be attributed to developing countries adopting equity crowdfunding for their new businesses. Currently, developing countries, such as Africa and South America, have the highest percentage of individuals starting their own businesses with Nigeria having as high as 40% of total businesses. The problem for these startups is the lack of access to traditional banking. In turn, these startups have to get creative, which is why most will turn to equity crowdfunding as a way to raise capital. The World Bank has estimated that there is chance to reach up 334 million people in emerging economies through crowdfunding.