Fintech start-up Toucan takes flight following £800k raise 

• Toucan aims to modernise charitable giving with its app that bridges a widening gap between  donors and the causes they care about 
• In its seed funding round, Toucan raised £800,000 from 13 investors, against an initial target of  £500,000 
• Early adopters of Toucan can help to shape a new digital era of cause-led giving and create a  world in which giving becomes second nature 

London, UK – Fintech start-up Toucan is taking flight after exceeding its seed funding target of £500k as  investors flocked to be part of a digital revolution in the charitable giving sector.  

With a total of £800k from 13 investors, Toucan’s app – currently in beta phase – is launching at a time of  urgent societal change, when people are increasingly eager to help tackle the world’s most pressing  issues.  

By joining the Toucan community and supporting a world in which giving is second nature, donors can  make an immediate and positive impact on the causes that matter the most to them. 

Through the Toucan app, users can build a personal portfolio of up to three charities and split a single  monthly donation between them. Donors can support the same charities long-term or switch each month  to develop a fully flexible and unique approach to giving.  

Chief Executive Officer, Matt Crate said:

“We founded Toucan with the vision of creating a world in  which giving is second nature. We have developed an intuitive app that uses modern technology to be a  force for good, bridging the gap between donors and the causes that matter most to them. We want  people to join us on our journey and to show the world what they stand for.”  

The early seeds of Toucan were sown in February 2021 after a lightbulb moment for Crate, a financial  services specialist who runs his own charity, as he walked past a supermarket donation box. Looking at  hand-written signage and plastic tokens, Crate realised small charities deserved a more sophisticated,  digital solution.  

A small team worked tirelessly to mould and develop the idea. Crate reached out to John Barrett, former  Chief Executive of the Small Charities Coalition, and brought him on board as Chief Operating Officer,  while Melody Truong joined the nest as Chief Product Officer, bringing expertise in mobile app design and  user experience.  

With experienced entrepreneur David King joining as Chief Financial Officer, the business started raising  capital with an initial target of £500,000. By May 2021, the company had raised £800,000 on the power of 

the Toucan concept and the strength of the team behind it. Its 13 investors demonstrate breadth and  quality and comprise two experienced tech investors, a wealth management CEO, three entrepreneurs,  two millennial retail experts as well as people with deep connections to charities. 

Chief Financial Officer, David King said:

“The idea of enabling a digital-native generation to build and  grow their altruistic identities resonated with Toucan’s initial investors. They recognised just how far the  charity sector has been left behind by the digital revolution.”  

Now is the perfect time to bring disruption to the charitable giving sector. Charities are regrouping after a  prolonged period of challenge caused by the COVID-19 pandemic, and in an age where people want to  play an active role in contributing to the world’s societal issues.  

The Summer 2021 ‘Small charities responding to COVID-19’ report, produced by Lloyds Bank Foundation  for England and Wales, outlined several areas of concern for charities emerging from the effects of the  pandemic. Long-term funding and digital transformation were two issues in need of most urgent action,  both of which have been identified by Toucan as key areas where its solution can offer immediate help.  

Chief Operations Officer, John Barrett said:

“We need to make it as easy as possible for donors to  connect with charities they care about, and those who they may not yet know. We are particularly keen to  give a platform to smaller charities who have such a massive impact in our communities around the UK.” 

The 2021 Charities Aid Foundation’s World Giving Index revealed in June that the UK had tumbled down  its generosity ranking, falling outside of the world’s top-20 for the first time. Toucan hopes, by attracting  new donors, including a particular push towards the millennial and younger generations, it can contribute  to a reversal of this trend.  

The beta version of the Toucan app is now available to download from the App Store or Google Play 

– ENDS – 

About Toucan 

Toucan’s vision is to redefine charitable giving for the modern, digital age. Toucan is aiming to make  giving fun, flexible and accessible to all by modernising the giving experience. By creating a community of  Toucaneers, the company wants to build a world where giving is second nature. Developed by a team of  fintech and charity specialists, Toucan has put the needs of charities and the good intentions of donors at  the heart of its ground-breaking product. 

For more information, please contact the Toucan Communications Office: 

Fatema Chowdhury  

Email: [email protected]