A tech start-up dedicated to aiding charities with digital donations has successfully exceeded its £2.4 million crowdfunding target.
Their innovative approach could revolutionise the way donations are made, impacting numerous sectors including museums, hospitals, and high street brands.
GoodBox, the pioneering start-up, specialises in creating terminals that enable charities and non-profits to accept contactless card donations.
By surpassing their crowdfunding target, GoodBox has demonstrated significant support from investors and great potential for growth. During a trial, the Natural History Museum reported a 20 per cent increase in donations thanks to GoodBox terminals. Additionally, these terminals are already operational in five hospitals and 12 Church of England cathedrals.
The crowdfunding campaign, hosted on Seedrs, has garnered the backing of 670 investors, collectively pushing the total past the £2.5 million mark.
GoodBox’s COO, Francesca Hodgson, expressed her gratitude, stating, “We are completely overwhelmed by the volume of support we have received and are excited to take GoodBox to the next stage.”
As cash transactions continue to decline, the need for modern donation methods increases.
GoodBox estimates that by 2021, only 27 per cent of transactions will involve coins or notes, with debit card transactions already surpassing cash.
More than half of all charitable donations are currently made in cash, highlighting the necessity for alternatives like GoodBox’s contactless solutions.
The official launch of the GoodBox product is slated for this year, potentially setting new standards in digital donations.
GoodBox seeks to expand its reach further by collaborating with museums, hospitals, and high street brands, establishing a strong presence in various sectors.
Tourist attractions, such as the National Portrait Gallery, have successfully trialled GoodBox terminals, witnessing an uptick in donation amounts.
Furthermore, the flexibility and ease of use of these terminals ensure they can be seamlessly integrated into various environments, from cathedrals to busy hospital settings.
The potential for growth in this sector is immense, given the rapid decline of cash donations and the prevalent use of contactless payments.
GoodBox’s advancements promise to offer substantial benefits not only to charities but also to donors seeking convenience.
Contactless technology is rapidly becoming the norm, and incorporating it into donation processes is a logical step forward.
The overwhelming investor support highlights a shared belief in the future of digital donations.
With substantial funds secured, GoodBox is poised to innovate further and adapt to the evolving financial landscape for charities.
GoodBox’s success in surpassing its crowdfunding target showcases a promising future for digital donations.
As they continue to expand, more charities and donors will benefit from this modern approach, signalling a transformative shift in charitable giving.