Charitable payments API provider Percent raises $5m for US expansion
Great news for good causes.
Nationwide-backed fintech Percent has raised $5m in a fresh venture round with plans to develop its presence in the UK and Australia and expand to the US.
The startup initially focused on its own charitable app, helping consumers to pick a charity that retailers would donate to when they shop in their store.
With over 7m non-profit causes on its platform, Percent is now shifting to become a charity API provider, letting businesses easily add charitable donations to their apps or services.
“Percent was founded to become the global API-first infrastructure behind all giving. This will be the foundation for a better, fairer future of capitalism in which every financial transaction has social and environmental good built into it,” said Percent CEO and founder Henry Ludlam.
As first reported by TechCrunch, Percent has just closed a $5m venture round led by Morpheus Ventures to help drive its expansion.
“With the events of the last several years, it has become more apparent that aligning brands with purpose is driving consumer behavior and spend,” said Morpheus managing partner Kristian Blaszczynski.
“However, today, the process of donating to nonprofits is incredibly archaic, manual and inefficient… Percent’s API-first platform abstracts away all of these complexities and automates the processes, allowing businesses to align closer to their stakeholders and focus on their core business.”