Contactless donations firm crowdfunds £1.5m in three weeks

06 Dec 2017 News

GoodBox, a contactless donation organisation, has crowdfunded just under £1.5m worth of investment in just over three weeks, from over 200 investors.

The organisation, which is behind Tap to Give, the “first one-stop-shop for contactless giving with its own payment processing technology”, launched its equity crowdfunder to raise £2.4m worth of investment on 13 November. GoodBox has of this morning received over £1.47m worth of investment, over 60 per cent of its target, from 228 investors in just over three weeks.

A spokeswoman for GoodBox said the crowdfunder would be live for another 37 days, and that “most of the proceeds will be used to further research and development and direct box costs, so GoodBox can build and distribute more devices”.

She said that GoodBox technology is already live or going live in 12 cathedrals across the UK, as well as in a number of large museums. She said since contactless donations had launched in the Natural History Museum in June, the charity had seen a 20 per cent increase in donations.

GoodBox is offering investors 23.21 per cent equity in the company, to be divided amongst investors based on the size of investment.

The company announced today that tennis player Sir Andy Murray had invested in the company’s crowdfunder. It has also received investment from the Pervais Naviede Family Trust, a group of trusts with an investment portfolio of more than £200m.

GoodBox was incorporated with Companies House on 12 July 2016. According to its first set of total exemption full accounts made up to 31 August 2017, the organisation had total assets of £216,442. It has since entered into partnerships with the Church of England and Imperial Health Charity.

It produces a range of contactless donation boxes, which can be used to process contactless donations in much the same way one would take cash donations with a charity tin.

Andrew O’Brien, the organisation’s chief executive and co-founder, said: "We are building a business that fulfils charity needs, but also addresses some of the major inefficiencies that persist within the sector. Although our journey begins with the charity sector, we’re by no means limited to it. We are excited about the next phase of our journey with this round of investment."

 

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