Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Goodstack raises £22m as corporate giving platform targets £2.4bn in employee donations

by November 18, 2024
November 18, 2024
Goodstack raises £22m as corporate giving platform targets £2.4bn in employee donations

London-based tech firm Goodstack has secured £22 million in venture capital funding, positioning it to facilitate £2.4 billion in employee donations to good causes this year.

The company, whose platform is utilised by major corporations such as HSBC, LinkedIn, and design software firm Canva, has been quietly investing the capital raised from San Francisco-based General Catalyst and other investors to achieve its ambitious goal.

Founded in 2015 by university friends Henry Ludlam, 33, and Stefan Greer, 34, Goodstack was originally known as Percent. It initially enabled retailers to reward student purchases by directing a small percentage back to their chosen campus teams or clubs. However, during the Covid-19 pandemic, the duo identified an opportunity to revolutionise corporate philanthropy by simplifying the process for employees to donate to vetted charities, schools, and non-profits worldwide.

“We have 13 million in our database,” Ludlam said, emphasising that all organisations have been thoroughly verified. Goodstack generates revenue by providing companies with access to its platform, typically leaving employee donations free of charges except for transaction fees levied by card issuers. “As a general rule, we try to get the corporates to cover the cost,” he added.

Unlike well-known charitable platforms such as JustGiving, GoFundMe, and Crowdfunder—which take a percentage fee and encourage donors to leave optional tips—Goodstack’s model focuses on corporate partnerships to minimise costs for individual donors.

The platform has facilitated a surge in donations to charities including the Red Cross, Cancer Research UK, and Oxfam, as well as to disaster relief efforts in response to events like tropical cyclone Carina in the Philippines and recent floods in Spain. From processing $50,000 in donations in 2020, Goodstack handled $1 billion last year and is on track to manage $3 billion this year.

“There was a massive gap in the market for doing something like us,” Ludlam noted. “All the current players were very locally focused. No one had built the one layer of software that makes it as easy to give in America as it is in Vietnam, South Africa, or Fiji.”

Ludlam and Greer met during their first year at Manchester University, sharing a flat in Oak House, Fallowfield. The company now employs 60 people and the founders retain a “significant minority” shareholding, having raised a total of $33 million in venture capital. Nationwide Building Society was an early investor but has since divested its stake.

General Catalyst, which first invested in 2021, has a track record of backing high-growth tech firms, including Airbnb, Irish payments giant Stripe, and social messaging service Snap at early stages of their development.

Read more:
Goodstack raises £22m as corporate giving platform targets £2.4bn in employee donations

0
FacebookTwitterGoogle +Pinterest
previous post
HMRC targets specialist agents in crackdown on R&D tax credit fraud
next post
Female FTSE 100 board members earn 69% less than male counterparts

You may also like

5 Crucial Mistakes to Avoid When Buying a...

September 26, 2022

Redefining Women’s Health: A Candid Q&A with Dr....

February 12, 2025

How Important Is Business Insurance When You’re Just...

September 7, 2022

Timeless Elegance: Top Decor Trends for a Sophisticated...

July 2, 2024

What Trump’s tariffs could mean for UK business...

April 3, 2025

Labour Faces Hurdles with Shein’s £50bn London Listing...

June 4, 2024

CEO of Lonestar Labor Management Christopher Linton Discusses...

September 15, 2022

Moneysupermarket sales lifted as Brits go deal hunting...

April 18, 2023

Octopus Energy to Repay £3bn Taxpayer Support for...

June 22, 2024

Record 1.1 Million Workers Employed on Zero-Hour Contracts...

March 21, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How to create an inspiring workspace

      June 26, 2025
    • Jill Biden’s ‘work husband’ runs for cover as privilege protection crumbles

      June 26, 2025
    • Poll: Majority of Republicans back Trump’s strikes on Iran; most Americans fear getting dragged into war

      June 25, 2025
    • Senate Republicans look to sweeten Medicaid pot to silence dissent on Trump’s ‘big, beautiful bill’

      June 25, 2025
    • Judicial nominee shuts down ‘wildly inaccurate’ claims that he’s Trump’s ‘henchman’

      June 25, 2025
    • Tesla’s European sales fall for a fifth month in a row

      June 25, 2025

    Categories

    • Business (8,315)
    • Investing (2,072)
    • Politics (15,806)
    • Stocks (3,168)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved