Crowd-funding: a solution for Spanish Entrepreneurs?

I have been reading about crowd-funding recently as it appears it is growing rapidly as  way of financing small projects. It seems to have developed into an investment network now where people can actually retain equity rather than receive just a perk for a donation. In Spain it is virtually impossible for entrepreneurs to receive financing unless they have collateral to back it up, which they don't, so it looks like this might be a solution for some and certainly looks like an area which has massive potential. Out of curiosity has anyone had any experience with crowd-funding? 

No experience with crowd funding yet but looking forward to having it!

There is an independent co-operative in Estonia that has been remarkably successful. Basically, you put your idea or your need on the group’s portal. Members of the co-operative, who to varying degrees think the scheme viable, buy shares (invest varying amounts) in it. The rate of interest is more competitive than the banks and the profits ploughed back into the co-operative. It is government backed and as I say, works like a charm.