Manchester fintech GoodBox hits £2m donated to UK charities
by Startacus Admin
Working with charities of all sizes and across multiple categories, including Comic Relief, the Church of England, Save the Children, and the British Red Cross, Manchester fintech GoodBox has now raised over £2 million through GoodBox hardware for UK charities, facilitating donations from over 830,000 people.
More exciting perhaps for the charity sector, it's highest average donation has now also reached £10.80; over 75% higher than its immediate competitors.
Backed by WorldPay and Visa executives, GoodBox is the startup helping charities embrace digital payments by providing a single point of entry through its pioneering hardware, payments and banking platform.
The platform has been designed and developed specifically to manage, grow and maximise the £583 billion of philanthropic transactions made globally each year. We first featured GoodBox back in September 2018, so it's been good to track their progress.
And to faciliate further growth, the Manchester fintech startup has just reached a £1m funding target on leading investment platform Seedrs to expand the team in all areas. This round is part of a larger Series A following a £1.3 million investment earlier this year. The share price for crowd investors remains the same.
GoodBox CEO and Co-Founder Andrew O’Brien said:
“Since the beginning, GoodBox has been driven by a very clear mission; to make charitable giving seamless across the UK. The steps we have taken over the last two years since our first Seedrs round has accelerated our ability to do this, and we are confident that this next round of funding will help us continue to deliver the most innovative technology, products and services to the sector.
We are delighted to return to Seedrs for our second investment round; the support we received in our last round has been invaluable to our development and success to date, so we look forward to welcoming both new and old faces to that community to help us move into our next exciting phase of growth.”
Last winter the platform was chosen to run the Mayor of London’s homelessness campaign, taking donations at 90 newly installed contactless points across the city. Most notably, GoodBox installed its GBx Pro terminals in the Natural History Museum in 2017, since then it has had a 64% uplift in donation income, with over £1,000,000 donated through the contactless points.
The charity sector is lagging a minimum of 5 years behind the corporate sector in terms of digital skills; with 55% of people still donating using cash, meaning charities are still reliant on a cash economy. However, with drastic changes in consumer payment behaviours, and a wider move towards a cashless society, it is vital that the charity sector has access to the very best technology in order to keep up with ever-changing digital demands of society.
Congrats GoodBox on their continued impact and success.
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Published on: 21st October 2019
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