Manchester-based GoodBox, which equips charities with contactless payment tools, closed a £9m funding round from existing backers including tennis champion Andy Murray.
The FinTech firm plans to use these funds to expand its business reach, smoothen fundraising for more charities and to continue innovating its tech solutions.
Alongside providing digital financing tools, contactless technologies and a single point of entry through its payment platform, GoodBox enables NGOs to reach new donors and raise more funds.
Founded by David White and Francesca Hodgson in 2016, the company operates over 5,000 contactless payment devices and has partnered with more than 1,600 charities across the UK, including the Church of England, Christian Aid, Save the Children, British Red Cross and Natural History Museum, among others.
To add on, the firm boasts of having processed millions in donations therefore boosting returns on investment for partnered charities by 85%.
Despite a steep decline in donations of 97% from February to April 2020 in the wake of the ongoing pandemic according to GoodBox’s data, the firm continued to add more charities to its portfolio with names such as Pret A Manger and Sainsbury’s.
Commenting on the challenges for the sector, co-founder and managing director Hodgson said, “We are keenly aware of the impact of Covid-19 on the nonprofit sector. Revenues have fallen to billions, but demand for services is rising. Nonprofits are effective digital funding. Being able to access financing innovation, raise the coveted funding and connect with the community is more important than ever.”
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