Ever wondered what impact the decline of cash and the growth of digital payments is having on charities? On one level it has been good news as it is now significantly simpler for people to donate online.
The downside though is that unplanned bursts of altruism where people give a few coins from their pocket to good causes has taken a huge hit.
Pro Bono Economics estimate a £10 billion funding shortfall for charities as a result of the pandemic as demand for services soar and funding dries up.
GoodBox, a tech-for-good company from Manchester is one of the startups that is offering a solution. It has developed contactless digital payments units which enable people to donate to charities in the same way they pay for items in stores.
It has two key products. The GBx Podium, a free-standing unit, which – with the GBx Core at its centre – designed to enable effortless contactless fundraising in museums and large public spaces. It has been sited in supermarkets like Sainsbury’s and food outlets like Pret A Manger. And also the Goodplate which is created to work for religious organisations collecting funds at their services.
The company has raised £9 million in funding with among those investing, tennis star and Wimbledon champion Andy Murray.
David White, GoodBox CEO said: “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 for 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. We are pleased to see continued investment into technology built for the third sector and look forward to realising our plans for 2021 and beyond.”
Francesca Hodgson, Co-Founder & Managing Director said: “At GoodBox we are acutely aware of the impact of COVID-19 on the non-profit sector; income has been reduced to the tune of billions yet demand for services are up. It is now more vital than ever that non-profits are able to access effective digital fundraising innovation to raise much-needed funds and connect with their communities. GoodBox continues to invest heavily in sector-specific innovation which includes contactless giving, to improve tools and outcomes for non-profits. Through our work, we strive to amplify the efforts of our incredible non-profits. We look forward to continuing our work to drive much-needed technological advancements to one of society’s most valuable sectors.”