Goodstack, a SaaS and fintech platform for companies’ charitable donations, has raised $28 million in its Series A funding round. The round was led by General Catalyst, with support from existing investors Morpheus Ventures and Repeat (formerly Jigsaw).
It provides a growing suite of technology services to nonprofits around the world, including verification and payment rails through its API. The company is on track to facilitate donations of over $3bn from them in 2024, more than treble last year’s level, and channel it to charities in more than 215 countries and territories.
Global brands partnering with Goodstack include LinkedIn, Canva, Atlassian and Monday.com.. Goodstack is on track to facilitate donations of over $3bn from them in 2024, more than treble last year’s level, and channel it to charities and good causes in more than 215 countries and territories. Beneficiaries range from giants like the Red Cross and Oxfam to local fundraising appeals.
As part of its evolution, Goodstack – which previously operated as Percent – is rebranding to reflect its growth as a technology platform. It will use the capital to further develop services for corporates and build its technology stack for nonprofits, hiring right across its team in 2025.
Henry Ludlam, founder and CEO of Goodstack, said: “Being purpose-led is baked into our generation. People now expect companies to put purpose at the heart of what they do to make a difference to society. Today this is harder for companies than it should be.
“Our product makes it easy for businesses to quickly build purpose and giving into their customer, employee and corporate offerings, driving significant consumer, nonprofit and investor value. Meanwhile nonprofits are behind the private sector in terms of the technologies they are using to catalyze their purpose. We aim to be the “Stripe for philanthropy” and our mission is to deliver the world’s best technology & funding to them as quickly as possible.”
“Goodstack enables its customers to serve all stakeholders—employees, customers, and communities—by supporting nonprofits and charitable giving,” said Quentin Clark, Managing Director of General Catalyst. “The validation and trust that partners like LinkedIn and Canva have in Goodstack is a powerful testament to the company’s value, and combined with strong leadership, positions Goodstack well for continued success.”
By Tech.eu
Source: Tech.eu