GoRaise secures £600k from Northstar Ventures and an angel investor to fund international expansion.
Northstar Ventures and an angel investor back the charity cashback platform with £600k.
Newcastle-based GoRaise operates an online charity cashback platform that directs a portion of retail commissions to nominated causes whenever consumers shop online.
GoRaise has secured £600k in funding from Northstar Ventures and an undisclosed angel investor to scale its charitable cashback platform. The Newcastle-based startup plans to direct the capital towards marketing initiatives, team expansion, and product development.
Founded in 2015, the platform enables individuals and organisations to raise funds through everyday online shopping with retailers such as eBay and John Lewis. Beyond traditional charities, the service supports personal fundraising campaigns for events like marathons.
Following the investment, the company prepares for international expansion into the USA, Australia, France, and Germany, alongside new product launches aimed at the business community.
From the founder
"The capital of Northstar’s investment will be deployed to raise awareness of the platform and to ensure that the product continues to be an incredibly simple and frictionless process for all users. We also have some exciting products in the pipeline to help the business community and event challengers (such as marathon runners) to raise money. We’re currently on the lookout for new hires to fill roles in marketing, web development and community management. GoRaise will also be rolled out in the USA, Australia, France and Germany."
Gary Thompson
Founder at GoRaise
Investor perspective
"We’ve been speaking to GoRaise since they joined the Ignite programme early last year, and during this time we’ve been impressed with Gary’s ability and undoubtable knowledge of the sector. He’s also a great example of an entrepreneur that wants to have a global and social impact."
Richard Charnley
Investment Director, Northstar
Use of funds
- 01Grow the team
- 02Continue product development
- 03Invest in sales and marketing
- 04Expand into international markets
