Last year, crowdfunding initiatives in the Netherlands raised €63m, almost twice 2013’s total of €32m, according to figures from consultancy group Douw&Koren.

The money went to some 2,000 initiatives  with creative projects accounting for 750 of them.

Crowdfunding involves companies and private individuals appealing for money to fund a particular project. This takes place outside the financial sector, usually via specialist website.

One of the biggest crowdfunding initiatives last year was launched by the Naturalis natural history museum in Leiden to buy a T Rex skeleton. It raised €5m by asking people to donate €10 towards the project. The T Rex will arrive in Naturalis in 2016.

Divorce or renovation

While crowdfunding has mainly been used to fund commercial or charitable projects, ‘people are also asking for money to finance their divorce or renovate their house,’ Gijsbert Koren told broadcaster Nos.

The financial service regulator AFM has welcomed the rise in crowdfunding initiatives but also warns of the risks. However, ‘rules and regulations should not hinder the responsible growth of this alternative form of finance,’ the AFM said.