It’s fascinating how Toucan Giving managed to carve out a niche for itself in the charitable giving sector. Though we don’t have the official figures on its net worth, the buzz is that thanks to its funding rounds, it’s valued at a cool €1,741,000. Now, isn’t that something?
Toucan Giving, a London-based fintech startup focused on transforming charitable giving, has made significant strides in the industry.
This startup, founded in 2021 by Matt Crate out of his passion for tech and social impact, has seen remarkable business progress, including the acquisition by PayaCharity (a PAYA Group brand) and funding from investors.
The brains behind Toucan Giving is Matt Crate, a guy whose passion for tech and making a difference is genuinely inspiring. He founded the company in 2021, and this startup has already achieved milestones in the business world, such as an acquisition by PayaCharity and an impressive trail of funding from investors.
Toucan Giving Net Worth
Although Toucan Giving’s net worth and income have not been officially published, it has been estimated to be worth €1,741,000, given the analysis extracted from its initial funding.
Most of Toucan Giving’s revenue comes from transaction fees on donations. They charge a 6.5% transaction fee on donations plus an additional £0.30. Sounds like a sustainable model, right?
According to eu-startup.com, Toucan received an impressive €941,000 investment, surpassing its initial target by a significant margin. And let’s not forget the £800,000 they secured from 13 investors by May 2021, during their early days, overshooting their target by £300,000.
My favorite tidbit is their appearance on the TV show Dragon’s Den. Picture this: Matt Crate and his co-founder, Melody, standing before the Dragons, pitching their hearts out. They managed to secure a £85,000 investment from Steven Bartlett for a 10% stake. The drama, the tension, the triumph – it’s the stuff of startup legend!
While these figures shed light on Toucan’s financial standing at that time, the company’s current figures, as of 2024, had not been released yet.
How Toucan Giving Works
But what gets me is how Toucan Giving works. It’s all about simplicity and generosity. Their app lets users pick up to three charities and tweak their donations as they see fit. Plus, the tracking feature is a neat touch, allowing users to easily monitor and share their donation history. It’s like they’re saying, “Let’s make giving back a part of your daily routine.”
Their app allows users to select up to three charities and modify their donations or chosen causes at their discretion. It also ensures trackability, providing users with a comprehensive history of their contributions for easy monitoring and sharing.
Toucan Giving Expansion & Acquisition
The turning point for Toucan, though, had to be their strategic moves in 2022. Appearing on Dragon’s Den was a masterstroke.
Toucan Giving was represented by its CEO, Matt Crate, and co-founder, Melody, on an episode of the entrepreneurs’ reality TV show on February 17, 2022. They aimed to secure an investment of £85,000 in return for a 3% stake to help fund their cause.
During the show, they impressed all five Dragons but could not agree with their offer, which caused four Dragons to pull out. Matt convinced Steven, who later decided to invest in their project for a 7% stake in ownership.
Following its appearance on Dragon’s Den in February 2022, the company witnessed a notable surge in its user base, functional capabilities, and product portfolio. The following month, it expanded to acquire Zishan Sheik’s DonatePal for an undisclosed sum.
PayaCharity, a prominent player in contactless donation technology, also acquired Toucan Giving in November 2022.
The specifics of the deal weren’t disclosed, but it’s a clear sign of Toucan’s value and impact in the charitable sector.