Asked by Lucid Tangerine on Feb 18, 2024



In reference to crowdfunding,a backer is best described as ______.

A) a person who will pay back a loan if you fail to do so
B) a person who contributes support in a crowdfunding venture
C) a financial institution that lends money to a startup
D) the financial institution that manages the transfer of money
  • Understanding the concept of crowdfunding
  • Identifying the role of a backer in crowdfunding
  • Differentiating a backer from other entities involved in crowdfunding

Verified Answer

Shakadrain Laster

Feb 18, 2024

Final Answer :
Explanation :
A backer is someone who supports a project or venture by contributing money or resources through crowdfunding. They are not a person who lends money or manages the transfer of money, nor are they responsible for paying back a loan.