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GoodBox Co generates £1mn for charities while in administration

Contactless donating using a GoodBox device
GoodBox’s contactless giving terminal

Administrators acting for The GoodBox Co Labs Ltd report some progress in attracting interest from potential investors in the fintech company which entered administration in June this year.

Frost & Wadsted have been working on stabilising the business and now report that they are focusing on the company’s future.

Founded in 2016, GoodBox Co worked with many well-known charities and museums, receiving accolades and awards for its payment device hardware along the way.  It enabled charitable donations to be made with just a swipe of a payment card. However, despite its success, it struggled to generate profit, a position exacerbated by the pandemic. 


Why your supporters are wealthier than you think... Course by Catherine Miles. Background photo of two sides of a terraced street of houses.

Screenshot from GoodBox's website's front page (July 2022), featuring a woman donating £3 to homeless charities.
Image: Front page of GoodBox’s website in July 2022.

A £9 million convertible loan deal in January 2021, involving the UK’s government scheme Future Fund was thought to be enough. However, revenue did not improve as hoped. A series of well-publicised disputes and continued pressure from creditors made further investment impossible for the company.

Frost & Wadsted were appointed as administrators in June 2022.

Jeremy Frost
Jeremy Frost

They announced that GoodBox Co’s systems continue to perform well, with “over £1 million in donations” made to charities and museums during the administration period.

They have also sent investment packs to potential investors who have expressed in the acquisition of the business or to “help fund a turnaround plan being put together with a long-term supplier”.

Jeremy Frost, Director of Frost Group Ltd, commented: 

“Our main priority at the moment is to generate offers and investment for GoodBox Co. We are very pleased with the proceedings so far and are confident that these measures will get GoodBox Co back to being the essential part of the charitable industry that it once was.”