Crowdfunding is the practice of funding a project or a venture by raising money from a large number of people, especially via the internet. These people are called Donors, and they can contribute any small amount of money depending on their capabilities.
It targets individual donors. Fundraising is seeking financial support for a cause or a charity. It reaches more audience because Someone who starts a fundraiser campaign has a lot of followers/support and the supporters persuade their team to garner more reach.