Enthuse, a London-based donations, fundraising and events platform has pocketed £3.5 million Series A funding recently. With this the regtech has £7.5 million in total.
To set foot in the international markets
The funding round was led by Praetura Ventures’ investment manager Sim Singh-Landa and director Guy Weaver. The Manchester-based venture capital fund targets early-stage businesses in high-growth sectors. The VC invested from its EIS Growth Fund. This deal comes after its investment in tech-for-good platforms, including Transreport and Culture Shift, and Leeds-based RapidSpike. Also, a consortium of existing investors took part in the funding round.
Enthuse will use the fund to develop and extend its product offering, expand its offering into new international markets, and double its team 50 to 100 strong employees.
Chester Mojay-Sinclare, Founder and CEO of Enthuse, said: “From day one we have been committed to transforming digital fundraising by putting charities first. Our products put charities front and centre to enable them to raise more for their cause. This investment will play a crucial part in our journey to be the number one for charity fundraising in the UK and beyond, by helping us to rapidly scale our team and roll out new products to help the third sector.”
Appoints new executives
In addition to the investment, Sim Singh-Landa joins the Enthuse board as a non-executive director and David Foreman, managing director of Praetura Ventures becomes an observer.
Sim Singh-Landa, investment manager at Praetura Ventures, added: “We’ve been really impressed with the ambition and expertise of the management team at Enthuse. The team has a clear strategy and growth plan, and a real focus on helping charities better connect with their supporters. The business is well positioned to scale, and with our support will continue to attract leading talent and deliver exceptional customer service to a growing pool of the UK’s biggest charities. Enthuse has been able to evidence the incremental value its product can achieve for a charity, driving fundraising efforts and increasing the value of donations.”
Support large charities in the UK
Chester Mojay-Sinclare established Enthuse (formerly CharityCheckout and Primo Events) in 2009. The platform provides charity-branded donation, fundraising and event management tools to over 4,000 charities. It has helped them raise over £100 million to date. The company supports 1 in 5 largest charities in the UK, including Macmillan Cancer Support, NSPCC, WWF, Save the Children.
On average, the UK donates around £10.1 billion to charity each year. As per reports, there has been an uplift in donations during the COVID-19 pandemic. Through a range of white-labelled, fully customisable tools and platform technology, Enthuse helps charities improve their brand recall, build and nurture a loyal supporter base, raise more funds and ultimately have more impact. Its product portfolio includes branded payment and communication solutions, virtual fundraising tools, data management and event registration software and a corporate platform for employee engagement.
The post Manchester VC Praetura Ventures leads £3.5M raise in digital charity platform to fuel international expansion appeared first on UKTN (UK Tech News).
