‘Tech for good’ firm onHand emerged from Dragons’ Den with a promise for £100,000 funding in return for 10% equity.
The employee volunteering and sustainability platform aims to help businesses deliver impact to local communities, people and the planet.
Set up in collaboration with some of the UK’s leading charities including The Red Cross, RNIB, Guide Dogs, Water Aid, and the British Heart Foundation, the platform operates worldwide and supports a number of causes including elderly & isolated help, poverty, homelessness support, crisis response and environmental and climate action.
Sanjay Lobo secured backing from Steven Bartlett, Deborah Meadan, Peter Jones and Touker Suleyman despite his ambitious request.
He explained how onHand’s on-demand solution helps engage employees in environmental and social action and showcased how employees can scroll the app to find opportunities to do good, instantly accept, and then carry out the action quickly.
Lobo explained how onHand helps responsible businesses give back and how the platform helps employers attract, retain and engage talent, with impressive engagement figures.
He also said employees sharing their stories of doing good can help businesses tell their social value and sustainability stories. Social Chain co-founder Bartlett picked up on this corporate gamification aspect of the platform.
Following the on-air negotiation, Lobo agreed to give up 10% of the business in return for £100,000, reducing to 6% when paid back.