When her mare was in need of costly surgery, three-day eventer Sarah Braun didn't have the cash. So to help save her mare and finance the operation she turned to crowdfunding, a practice that's gaining popularity both in and outside the horse industry. And while funds can successfully be raised via Internet financing, some legal and fundraising experts say that caution is key for both donors and fundraisers.

Crowdfunding uses the Internet to raise revenue through small donations from a large number of people. Frequently, donors are those who know fundraisers personally or via Facebook, Twitter, and other social networks. Other times donors are strangers who learn about the fundraising campaign by visiting the same networking sites.

In March, Braun's mare Perfect Intentions needed emergency colic surgery. In the wake of the procedure, Braun established a fundraising page through the Internet crowdfunding firm GoFundMe. For a 5% per donation fee and a 3% per donation handling fee, GoFundMe provided Braun with a Web page where she could describe her needs and promote through Facebook and Twitter, and with an email address so she could field questions from potential donors. In all, Braun said she raised $6,500 of the $10,000 needed for the horse's recovery.

“I still have a lot to pay off, but they money we raised is really helpful,” Braun said