Toucan, the app that has been fueling a transformation in charitable donations, has just been bought by PayaCharity, a charitable fintech from the UK. The acquisition deal aims to make donating simpler, more flexible and more accessible.
After a year that has been somewhat of a rollercoaster, charities have, in many ways, been at the forefront of supporting people to deal with different obstacles and challenges, filling the gaps left by other actors and wider contextual factors.
We are also living in an era where there is a greater social consciousness surrounding global and local challenges – and there’s no doubt that topics of social justice and sustainability are well-versed in today’s psyche and younger generations. This, combined with the digitalisation of our world, has meant the charitable sector has been open to tech enhancement.
Founded in 2020, Toucan was developed by Matt Crate, alongside John Barrett, David King and Melody Truong, to do this – to bring about a digital era for charitable donations, recognising that small charities needed a more sophisticated digital solution and a way to encourage young people to get involved.
Today, Toucan announced that it has been acquired by PayaCharity, snapped up by the fintech as it seeks to strengthen its offering in the charitable sector.
Toucan: Modernising Charitable Giving
The London-based app enables users to 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.
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. The technology bridges a widening gap between donors and the causes they care about.
Since its launch, Toucan, which raised over €940k this time last year, has appeared on BBC Dragons’ Den and has allowed ‘Toucaneers’ to donate from a choice of over 20k charities.
PayaCharity: Helping charities to go digital
Founded in Northhampton, PayaCharity has been helping charities of all sizes to harness the potential of contactless and digital donations since 2010. Part of the Paya Group, one of the UK’s largest providers of contactless donation devices, PayaCharity manages the full spectrum of donations and giving with its online platform – including contactless donation devices, QR codes, Gift Aid and more.
Now, having snapped up Toucan, the impact-driven fintech aims to strengthen its offering through a consumer-focused app which makes donating simple, flexible and accessible.
Bill Thomson, CEO of Paya Group, said: “We have seen a big shift in buying, working and travelling habits in the last few years. The Charitable giving industry is catching up fast with the digital transformation. Together with contactless and online giving, Toucan offers a valuable new option for donors beyond the conventional cash collection buckets and multiple direct debit sign ups; and the splitting of donations across a choice of causes is a wonderful feature in the Toucan app.”
Acquisition details
The Toucan acquisition will enable PayaCharity to further the vision of bringing digital transformation to the sector, and expand the engagement with individual donors, particularly the younger generation were using apps is second nature, and social justice is high on the agenda.
Toucan’s users will be able to continue to donate to their favourite causes and build a portfolio with control to give monthly and track their donations and impact over time.
Matt Crate, CEO of Toucan said: “I am delighted that Paya Group has seen Toucan as an opportunity to help them further their vision to bring digital transformation into the Charitable Sector. This is a time where we all need to be stepping up in terms of supporting good causes up and down the country, and I firmly believe that Bill and the team can help accelerate Toucan by reaching new and engaged audiences through their enhanced giving infrastructure and large transactional user base.”
