FinTech startup Toucan is taking flight after exceeding its seed funding target of £500,000 to power a digital revolution in the charitable giving sector.
With a total of £800k from 13 investors, Toucan’s app – currently in beta phase – is launching at a time of urgent societal change, when people are increasingly eager to help tackle the world’s most pressing issues.
By joining the Toucan community and supporting a world in which giving is second nature, donors can make an immediate and positive impact on the causes that matter the most to them.
Through the Toucan app, users can build a personal portfolio of up to three charities and split a single monthly donation between them. Donors can support the same charities long-term or switch each month to develop a fully flexible and unique approach to giving.
“We founded Toucan with the vision of creating a world in which giving is second nature,” said CEO Matt Crate.
“We have developed an intuitive app that uses modern technology to be a force for good, bridging the gap between donors and the causes that matter most to them. We want people to join us on our journey and to show the world what they stand for.”
The early seeds of Toucan were sown in February 2021 after a lightbulb moment for Crate, a financial services specialist who runs his own charity, as he walked past a supermarket donation box.
Looking at hand-written signage and plastic tokens, Crate realised small charities deserved a more sophisticated, digital solution.
He reached out to John Barrett, former CEO of the Small Charities Coalition, and brought him on board as COO.
Melody Truong joined as chief product officer, bringing expertise in mobile app design and user experience, with experienced entrepreneur David King joining as CFO.
“The idea of enabling a digital-native generation to build and grow their altruistic identities resonated with Toucan’s initial investors. They recognised just how far the charity sector has been left behind by the digital revolution,” said King.