GoodBox has raised £9 million for its digital giving platform that uses contactless technology to help charities raise money in an increasingly cashless society.
Launched in 2016, the Manchester-based outfit has partnered with over 1500 non-profit organisations to modernise their fundraising, processing millions in donations and boosting returns on investment by up 85%.
The firm says that the Covid-19 pandemic and its effect on cash usage has hit charities hard, citing a Pro Bono Economics estimate of a £10 billion funding shortfall as demand for services soar and funding dries up.
GoodBox’ own data showed a decline in donations of 97% from February to April 2020 but the startup has recently inked deals with Pret A Manger and Sainsbury's and says the latest funding will be used to bring new products to market.
David White, CEO, GoodBox, says: "Despite the obvious challenges of 2020, we have continued to onboard new charities on the GoodBox platform throughout the year; evidence of the huge boom in digital payments and the sector’s appetite to adapt.
"The closure of this round will solidify our position as a partner in fundraising to the global non-profit sector, enabling us to offer a wider range of solutions that will help non-profits engage more donors and raise vital funds for their causes."