StartSomeGood, the Sydney-based crowdfunding platform for social and environmental initiatives, has raised $400,000 from an impact investor to develop the platform and grow its global team.
The angel impact investment comes from Trimantium Capital, a technology and impact investment firm based in Melbourne, led by serial entrepreneur Phillip Kingston.
StartSomeGood’s mission is to support social entrepreneurs, non-profits and community groups rally the support and raise the funds they need to make a difference.
Co-founder and CEO Tom Dawkins said the new funding would allow StartSomeGood to build a brand-new platform to be launched mid-year, combining the latest technologies with their commitment to the most collaborative and helpful support for world changing projects looking to raise funds.
“This investment, which was predicated on both financial and social returns, will allow us to scale our support by complementing it with a new best-of-breed platform for social change makers” said Mr Dawkins.
“StartSomeGood was founded by social entrepreneurs for social entrepreneurs and we bring our extensive experience in cause-based fundraising to help those using our site. It’s our support that separates us from other crowdfunding platforms.”
“Trimantium is impressed with the social impact and business growth StartSomeGood is generating in a short space of time with limited resources” said Mr Kingston. “It’s envisaged that with extra support and capital, StartSomeGood is likely to cement its place in the global social financial tech and fundraising space, and carve out new and important capital flows to important projects.”
StartSomeGood focuses exclusively on social good projects that are for the benefit of the community or environment. They have helped over 500 projects raise $5 million worldwide, with half of that being raised on the platform in 2014. With 54% of projects reaching their fundraising goals, StartSomeGood has one of the best success rates in the industry. Amongst their recent successes is the Asylum Seeker Resource Centre’s Food Justice Truck. The truck is Australia’s most successful social enterprise crowdfunding campaign with $153,000 raised to increase nutrition and reduce hardship for more than 2,000 asylum seekers annually.