the differences between fundraising and financing include different meanings, different operation modes, different distribution of risks and benefits, and different needs and purposes, as follows:

1. Different meanings: fundraising refers to an enterprise attracting investors' funds by issuing stocks, bonds, funds and other securities to increase its capital reserves. Financing means that enterprises borrow money from outside through financing channels such as banks and financial institutions to meet their capital needs.

2. Different modes of operation: fundraising usually needs to go through the processes of securities issuance and listing, and investors need to subscribe or purchase. And financing means that enterprises borrow money from banks or financial institutions by signing agreements with them.

3. The distribution of risks and benefits is different: when raising funds, the securities such as shares or bonds of the enterprise are usually given to investors, and the enterprise will face the situation of sharing benefits and taking risks with investors. The financing is that the enterprise signs a loan agreement with a bank or financial institution, and the enterprise needs to bear the expenses such as interest and loan principal, and the risks and benefits are owned by the enterprise.

4. Different needs and purposes: fundraising is usually for the purpose of expanding the scale of enterprises, expanding business or reorganizing assets, while financing is for the purpose of coping with the funding gap and short-term funding needs in enterprise operations.