FinTech News
Nonprofit Fundraising Platform Givebutter Raises $50 Million
A platform built for nonprofit fundraising has raised some funds of its own.
About the round:
This week, Givebutter has announced that it’s raised $50 million in strategy growth investment funds. The round was led by BVP Forge with participation from Ardent Venture Partners. To date, Givebutter has now raised $57 million including a seed round in 2022.
These newly raised funds will be used to accelerate the development of Givebutter’s platform, including the launch of a workflow solution later this year. Additionally, the company intends to continue and expand customer-focused initiatives including growing its Givebutter Gives Back program.
About Givebutter:
Givebutter is an all-in-one fundraising and CRM platform for nonprofits. Currently, more than 35,000 organizations utilize the service and total donations on the platform have now surpassed $1 billion. As the company stated, its goal is to help organizations raise more while paying less.
Among the tools that the platform offers on the fundraising side include donation forms, campaign support, and more. As for the CRM aspect, nonprofits enjoy email, texting, and direct mail options.
In terms of expenses, Givebutters allows nonprofits to enable donor-funded tips. Alternatively, those who opt out of tips can pay a platform fee instead (1% for donation forms, 3% for fundraising pages, and 5% for an event or auction). The service also charges processing fees of 2.9% + 30¢ — although they note that 95% of these are covered are by donors.
What they’re saying:
Commenting on the success of the company so far, Givebutter co-founder and CEO Max Friedman said, “Changemakers are at the heart of everything we do at Givebutter, and this investment represents an investment in them. We are building the home for changing the world, and there’s no ‘butter’ place for nonprofits to be.” Co-founder and CTO Liran Cohen added, “It’s incredible to see the impact our technology has had on so many organizations and the impact those organizations have had on the world. Our team is energized, and we’re only getting started.”
Meanwhile, BVP Forge partner Navid Oreizy said of the firm’s investment, “Givebutter is set to become the leading platform for nonprofits to better engage their donors and amplify their missions. We look forward to leveraging Bessemer’s proven track record with category-defining companies like Shopify, Canva, and Toast to further accelerate Givebutter towards its goal of becoming the operating system for nonprofits.”
My thoughts:
Looking at Givebutter’s site, it seems like a great platform for non-profit fundraising as it offers a laundry list of the latest giving options. It’s no wonder, then, that the FinTech-adjacent company is now raising such an impressive investment round.
Author
Other Articles by Kyle Burbank
Personal Finance News
Credit Card News
U.S. Bank Introduces Shield Visa Card
U.S. Bank has debuted a new credit card that includes a "market-leading" promo interest rate and a unique clear plastic design. About the U.S. Bank Shield Card: This week, U.S. Bank announced the launch of the U.S. Bank Shield Visa Card. A key feature of this card is an introductory 0% APR on purchases and balance transfers for the first 24 billing cycles. Following this period, the card has a...
Homes
