Feel-good fundraising platform TapSimple has raised £900,000 in an investment round as it continues to develop its technology to support charitable fundraising activity in an increasingly cashless world, taking its total fundraising to date to the £2m marks.
Investors in the round include Ecclesiastical, Lord Michael Spencer, Lord Mervyn Davies, Dominic Burke, and Anthony Bolton, who now join previous round investors including NCVO chairman Sir Martyn Lewis.
Founded in 2018 by Alexander Coleridge and Tom Montague, TapSimple first launched with the Clip, a donation device that facilitates Contactless and Chip & Pin donations when paired with the TapSimple app, which helps charities raise more at a time when 73% of charities are finding street giving is failing due to the decline of cash.
This year, TapSimple further developed its proposition by launching a Virtual Events Platform, which includes integrated video conferencing, ticketing, and an online donation service designed to help charities engage with stakeholders, volunteers, and donors online. Its sophisticated reporting dashboard can be leveraged to create campaigns, manage teams and volunteers, add Gift Aid and optimize donations.
The news came after TapSimple announced it would be supporting retail giant Lidl with its fundraising efforts for the NSPCC by supplying its contactless fundraising technology.
The investment arrives following a period of rapid growth for the startup, which recently added Cancer Research UK to its portfolio of charity clients, and already supports major UK charities including Macmillan, the NSPCC, Children with Cancer UK, and Christian Aid. TapSimple has signed 80 new clients since September and is paving the way for innovation in the voluntary sector. It is an extremely proud Trusted Supplier of the National Council for Voluntary Organizations.
Alex Coleridge, co-founder at TapSimple, commented: “This raise confirms that now is the time for charities to embrace technological innovation and make charitable giving more accessible. As the fundraising environment changes and consumer behavior shifts, charities who adapt now will be in the best position to thrive.
Tom Montague, co-founder at TapSimple, added: “We are very excited to be unlocking digital donations, so these charities can continue to make hugely positive contributions to society. It is great to see the sector attracting investment at a time when new technology can make such a major difference for fundraisers.”
Charles Outhwaite, Chairman of TapSimple, said: “It’s testament to the team at TapSimple led by Alex and Tom that the business has achieved its product milestones well ahead of forecast despite the obvious challenges in 2020. With 5 of the UK’s top 10 charities already using TapSimple’s suite of services we are well on our way to be the leading supplier of fundraising solutions to the voluntary sector.”
