FinTech startup Toucan has raised £800k from a seed funding round, exceeding its original target of £500k.
The £800k seed was raised between 13 undisclosed investors across a vast range of industries.
Toucan allows its users to build a personal portfolio of a maximum of three charities and split a single monthly donation between them. The donors are able to choose to support the charity long-term or switch per month. The app is currently in beta phase.
According to Toucan, the idea for the company came after Matt Crate – the Toucan CEO – walked past a supermarket donation box, and realised charities deserved a more sophisticated and digital solution.
Crate remarked, “We founded Toucan with the vision of creating a world in which giving is second nature. We have developed an intuitive app that uses modern technology to be a force for good, bridging the gap between donors and the causes that matter most to them. We want people to join us on our journey and to show the world what they stand for.”
Toucan CFO David King added, “The idea of enabling a digital-native generation to build and grow their altruistic identities resonated with Toucan’s initial investors. They recognised just how far the charity sector has been left behind by the digital revolution.”
Toucan COO John Barnett also said, “We need to make it as easy as possible for donors to connect with charities they care about, and those who they may not yet know. We are particularly keen to give a platform to smaller charities who have such a massive impact in our communities around the UK.”
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