The campaign is expected to last a total of five weeks and people can still donate. In exchange, investors receive a subscription, the length of which depends on the amount donated.
Reporter was founded by former Luxemburger Wort journalists Christophe Bumb and Laurence Bervard.
In recent weeks, their numbers were strengthened with the announcement they will be joined by former Wort culture editor Marie-Laure Rolland and 100,7 radio journalist Kyra Fischbach, who will work freelance on the project.
The online magazine is expected to launch in March 2018.