Toucan raises £800k in seed funding from 13 investors to expand its charitable giving platform.
The fintech start-up exceeded its £500k target with backing from 13 investors.
Toucan operates a fintech platform designed to modernise charitable giving through a mobile application. The service connects donors with causes and allows users to manage a portfolio of charities.
Fintech start-up Toucan has secured £800k in a seed funding round backed by 13 investors, surpassing its initial target of £500k. The capital will support the ongoing rollout of its mobile application, which allows users to split monthly donations across multiple charities.
The company was established after founder Matt Crate identified a lack of digital infrastructure for small charities. The founding team subsequently expanded with the addition of John Barrett, Melody Truong, and David King.
The funding arrives as the charitable sector contends with the aftershocks of the COVID-19 pandemic and declining giving rankings in the UK. Toucan aims to engage younger generations in philanthropy by offering a flexible digital alternative to traditional donation methods.