RaiseNow, the Switzerland-based charitable giving technology provider, has secured 5.4 million CHF in investment to enable it to expand its product services to more charities around Europe.
The investment round was led by SIX Fintech Ventures, the corporate venture capital arm of SIX, and PostFinance, the financial services unit of Swiss Post. The latter increased their stake in the company having invested in it for over three years.
Private individuals were also involved, including Ivo Francioni, who will also join RaiseNow’s Board of Directors.
The financing round followed a merger earlier this year between RaiseNow and Altruja, the fundraising technology company that serves charities in Germany and Austria.
Part of the attraction to the investors is the 18-member research and development team at RaiseNow, which the company claims is the largest of any fundraising technology provider in Europe.
Andreas Iten, Managing Director of SIX Fintech Ventures, said: “We are convinced that RaiseNow will continue to enable non-profit organisations by developing the latest payment technology, such as through its cooperation with TWINT, the biggest mobile payment provider in Switzerland.”
Marco Zaugg, Founder and CEO of RaiseNow, added: “As an industry, we are just scratching the surface of how powerful fundraising technology can be when it’s combined with donor data, diversified channels, integrated and automated processes, and massive opportunities offered by dynamic shifts in the industry.”
RaiseNow was founded in 2015 and is based in Zurich with offices in Berlin and Munich. It builds fundraising technology to help non-profit organisations find supporters, rally communities, raise funds, and create impact. It currently supports over 4,000 organisations around the world, including Save the Children International, WWF, Amnesty, UNICEF – processing more than 2.5 million transactions and a donation volume of over 300 million euros.
- Swiss digital donations increase by 14%, says RaiseNow report (28 November 2016)
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