Fundraising platform GoRaise is set for growth after securing a £600,000 investment.
The start-up, which was among those to triumph in Tech North’s Northern Stars competition last year, secured half the funds from Northstar Ventures’ Business North East Accelerator Fund and half from angel investor, Sebastian Gray.
The charity says it will use the investment to help fund expansion into the USA, Australia, France and Germany and boost marketing, recruitment and product improvements.
Founded in 2015 by Gary Thompson, GoRaise is an online charity cashback platform that facilitates fundraising opportunities for both individuals and organisations. It makes use of affiliate commissions to reward consumers with a donation to their chosen cause every time they shop online.
Despite being an early stage start-up, the company, which has been through Newcastle’s tech accelerator programme Ignite, has already attracted retailers such as Ebay and John Lewis to its platform.
GoRaise distinguishes itself from competitors by providing fundraising opportunities for personal challengers in addition to established charities and causes.
Those running individual campaigns can register their event and invite friends to support it. From then on, each time a supporter shops online with a participating retailer, a donation to the cause is made.
Richard Charnley, investment manager at Northstar Ventures, said: “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.”
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