Crowdfunding in Transport Innovation and Sustainability: A Literature Review and Future Directions

Sustainable transport innovation often faces funding gaps, as traditional public and private sources rarely support early-stage or high-risk initiatives. Crowdfunding, enabled by digital transformation, is emerging as a complementary financing mechanism for this sector. This study presents a literature review combined with bibliometric mapping to examine the evolving research landscape on crowdfunding in transport. Three research questions guide the analysis: RQ1—What are the dominant research areas at the intersection of crowdfunding and transport? RQ2—What types of transport projects are financed via crowdfunding? RQ3—What research gaps and future directions emerge for transport innovation financing? Findings reveal three core research areas: (1) Sustainability and finance, (2) Fintech and blockchain, and (3) Management and consumer behavior. We propose a typology of crowdfunded transport projects comprising five categories: (1) Large-scale transport infrastructure, (2) Sustainable local mobility, (3) Innovative start-ups, (4) New business models, and (5) Advanced systems and technologies. This demonstrates crowdfunding’s versatility beyond traditional infrastructure, supporting high-risk innovations critical for decarbonization and technological transformation. The study highlights domain-specific challenges—such as integrating PPP models with digital finance and ensuring investor protection—and emphasizes crowdfunding’s role as an enabler of low-carbon transition aligned with global climate strategies (EU Green Deal, SDGs). Despite its potential, investor safety remains a major concern. Policy implications include sandbox regulation, standardized risk assessment, and operationalizing PPP–crowdfunding hybrids to unlock large-scale and innovative transport projects.