Charity app Sustainably crowdfunding £300,000
Richard Branson between Loral Quinn and her daughter Eishel, with Jackie Waring of Investing Women
A mother and daughter charity supporting business, voted Richard Branson’s Start-Up of the Year in 2019, is close to achieving its crowdfunding target of £300,000.
With three weeks left on the Crowdcube platform Edinburgh-based Sustainably had raised £274,000 from 150 investors.
The cash raised will enable the business to market to new users and charities as well as improve functionality and launch a B2B platform.
Now supporting 40 charities, including Macmillan, Shelter and the British Heart Foundation, 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, co-founder and CEO, said: “We believe that many of us want to support charities but don’t want to commit to one cause and face the hassle and guilt of later cancelling.
“People want convenience, flexibility, transparency and control. With services such as banking, transport and music becoming more automated and frictionless, we aim to do the same for giving.
“86% of Gen Z and millennials (the UK’s biggest givers) want to donate via mobile and see their impact. And while 50%+ of donations are still made in cash, we live in an increasingly cashless society.”
Inspired by fintech, augmented reality, gamification, the internet of things and big technology businesses who had become part of everyone’s daily lives, Loral and her daughter Eishel merged their combined experience in FTSE100 digital strategy and ethical retail, to come up with the idea of Sustainably.
Investors include the founders of Skyscanner and Lastminute.com. The duo also won £140,000 from the WeWork Creator Awards.