The aim of this article is to present the theoretical assumptions and practical implementation of equity crowdfunding in the perspective of the European SME sector. The article shows how communication during a crowdfunding campaign is carried out between entities participating in it and presents the key mechanisms that are part of the process of raising capital using equity crowdfunding. The analysis also covers how equity crowdfunding can be a response to the challenges facing the European SME sector in terms of raising capital and the innovation deficit in face of the economic downturn. In the article, the content analysis was used as a research method, the implementation of which enabled the analysis of the existing literature on the subject.