A tech start-up helping charities receive digital donations has smashed its £2.4 million crowdfunding target.
GoodBox makes a terminal which allows charities and non-profits to accept donations via contactless card. It is looking to work with museums, hospitals and high street brands.
It is already working with tourist attractions including the Natural History Museum – which has reported a 20 per cent increase in donations during a trial – and the National Portrait Gallery.The terminals are also being used in five hospitals and 12 Church of England cathedrals.
Its Seedrs campaign ends on Friday but it has already secured 104 per cent of the target, more than £2.5m.
“We are completely overwhelmed by the volume of support we have received and are excited to take GoodBox to the next stage,” wrote COO Francesca Hodgson on the company’s crowdfunding page.
A total of 670 investors backed the campaign. The product will officially launch this year.
GoodBox cites estimates that by 2021 only 27 per cent of transactions will involve coins or notes, while debit card payments have already overtaken cash.
More than half of charitable donations are in cash, meaning modern alternatives are a must.