Giving Tech start-up Sustainably announces successful funding round
Following a successful funding round, givtech start-up, Sustainably, are set to continue transforming frictionless giving through onboarding 200,000 users by the end of the year and generating an estimated £100m extra donations for the charities on their app.
The investment raised will support them to market to new users and charities as well as improve functionality and launch a B2B platform. It has also enabled the founders to expand the team with three new recruits including two engineers and oen growth lead.
Loral Quinn, Co-founder and CEO of Sustainably explains: “The global pandemic and months of lockdowns have put significant financial pressure on charities over the last year with a huge decrease in traditional fundraising for charities due to social restrictions. According to Civil Society, it is estimated that charities in the UK will have a £12bn shortfall in donations for 2020, but the need for the support they provide has doubled.”
Now supporting over 40 charities, including Macmillan, Shelter, British Heart Foundation, Social Bite and The Rainforest Trust, Sustainably is a free app that lets people easily and safely give to their chosen good causes by rounding up cashless transactions and donating spare change automatically, every time they shop.
Loral Quinn continues: “We created Sustainably to enable people to have a positive impact as part of everyday life. Partnering with some amazing causes Sustainably is powering a new income stream for charities to help them continue their great work and using technology for good making it easier for people to give on their own terms and see their impact.”
Sustainably aims to reach over 200,000 users by the end of the year, generating an estimated £100m extra donations for the charities on their app.