Fundraising technology company givestar has raised US$12 million to accelerate its expansion across the UK and US.
The investment round was led by Mercia Ventures, with participation from Love Ventures, marking the largest funding round in the company’s history and one of the largest raised by a UK fundraising technology platform.
The new investment round will support givestar’s expansion in the UK and US, accelerating product development, team growth, and its platform capabilities for charities, event organisers, and fundraisers.
London-based givestar initially transformed smartphones into contactless donation points. The company has since developed a connected platform supporting digital fundraising, event fundraising, supporter engagement, and charity stewardship.
To date, over 800,000 user accounts have been created on givestar, generating more than US$70 million from millions of donors for over 4,000 charities. The company reports that active fundraisers have increased 225% this year, with 76% of its users aged under 35.
The platform serves as the official fundraising technology partner for mass-participation event organisers, such as RunThrough, Tough Mudder UK, Spartan UK, Ultra Events, and Ultra X. Integrating directly into event registration processes, the platform connects participants with causes at the point of entry.
In the US, givestar has established partnerships across more than 70 events, such as Bay to Breakers, the Las Vegas Marathon, and the Portland Marathon. Earlier this year, the company was appointed Official US Fundraising Partner to Spartan and Tough Mudder.
Tom Montague, Co-Founder of givestar, said “When we started givestar, we’d noticed that young people hadn’t stopped caring about causes – they’d just stopped carrying cash. So we put the collection tin on the phone. But we quickly realised the opportunity was much bigger. Fundraising is still fragmented across events, fundraisers, donors and charities.
“We’re building the technology layer that connects those worlds, creating a community that makes giving and fundraising more engaging and ultimately powers modern fundraising. This investment gives us the firepower to take that ambition much further, particularly in the US.”
Hugo Lough, Investor at Mercia Ventures, said “Fundraising behaviour has changed significantly over the past decade, but much of the technology supporting charities has struggled to keep pace. What stood out to us about givestar was not only the technology the team has built, but the network they are creating around it. By partnering with some of the biggest participation events in the UK and establishing an early foothold across more than 70 events in the US, they are embedding fundraising into the places where it naturally begins.”
Lough continued “Tom, Alex and the wider team have already built impressive momentum, and we are excited to support them as they continue building the technology and community connecting charities, events, fundraisers and donors, with the ambition to become the technology layer powering modern fundraising.”
