# GoodBox Co generates £1mn for charities while in administration

- Link: https://fundraising.co.uk/2022/08/24/goodbox-co-generates-1mn-for-charities-while-in-administration/
- Published: 2022-08-24T17:22:20+01:00
- Author: Howard Lake

**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](https://fundraising.co.uk/tags/goodbox) 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. 

## Advertisement

![Screenshot from GoodBox's website's front page (July 2022), featuring a woman 
donating £3 to homeless charities.](https://wfay6x.infiniteuploads.cloud/2022/08/
goodbox-front-page-hero-image-202207.jpg)

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](https://fundraising.co.uk/2022/07/18/administrators-appointed-for-goodbox-co-labs/)
in June 2022.

![Jeremy Frost](https://wfay6x.infiniteuploads.cloud/2022/08/Jeremy-Frost.jpeg)

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](https://fundraising.co.uk/2022/08/24/goodbox-co-generates-1mn-for-charities-while-in-administration/Go*************@********co.uk),
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.”

 * **[Contactless donations points installed across London to help homeless people](https://fundraising.co.uk/2018/12/04/contactless-donation-points-installed-across-london-help-homeless/)(
   4 December 2018)**
 * **[GoodBox contactless devices hit milestone of one million donations](https://fundraising.co.uk/2021/06/18/goodbox-contactless-devices-hit-milestone-of-1m-donations/)(
   17 June 2021)**
 * **[GoodBox and Swiftaid partner to enable automated Gift Aid on contactless donations](https://fundraising.co.uk/2020/07/10/goodbox-swiftaid-partner-to-enable-automated-gift-aid-on-contactless-donations/)(
   10 July 2020)**