Due to its dynamic growth during the last decade, crowdfunding has become a kind of phenomenon among the methods of investing and raising capital. There is also a growing interest in crowdfunding among researchers and scientists. This article attempts to systematise the concepts and classifications of crowdfunding on the basis of the constantly developing literature on the subject. The paper analyses existing crowdfunding definitions to embed the concept more accurately among other models concerning value co-creation. The author highlights the features of crowdfunding that are often perceived as the essence of the trend, by citing various definitions created in recent years. A secondary goal is to propose an extension of English-to-Polish translations of terminology and to add arguments to the discussion while offering inspiration for further research. The main research method used is a descriptive method supported by a critical analysis of the literature on the subject.