The African crowdfunding market is estimated at $126.9 million in 2015. There were 57 active crowdfunding platforms headquartered and operating in Africa in 2015. South Africa leads the way in African online alternative finance, and has 21 operational crowdfunding portals. Nigeria comes second with 9 crowdfunding platforms. In 2015, the African crowdfunding market was composed of 21 donations based-platforms, 19 equity platforms, 13 rewards-based portals, 2 peer-to-peer lending platforms, and 2 hybrid platforms. Donations and equity platforms are the fastest growing crowdfunding models.