Localgiving.com’s latest match funding initiative raised over  £90,000 for charities in its first 24 hours.

The Grow Your Tenner campaign launched yesterday morning with £500,000 made available by the Cabinet Office to match donations up to £10. By 10am this morning £91,178 was raised, including £45,721 from individual donations, £36,731 from match funding and £8,726 from gift aid.

So far 3,691 individual donations have been made -  more than the total number of donations in any of LocalGiving's previous match funding initiatives. This includes more than 200 people (5.5 per cent) who have set up direct debit payments to a charity. As part of the campaign their monthly contribution will be matched for the first three months.

This is the third match funding round run by Localgiving.com with funding from the Cabinet Office. In March enough donations were made by the public to use a match funding pot worth £375,000 within 48 hours of its launch. The first round of funding, £170,000, launched at the end of last year and was claimed within a week.

Localgiving.com was founded by Secret Millionaire participant, Marcelle Speller in partnership with the Community Network Foundation, in 2008 and launched in November 2010 as a way for small charities and community organisations to receive donations online. It now has more than 2,500 charities and local groups registered. It charges charities an annual fee of £60 plus VAT.