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07.10.2024 | Tech and Business News

Berlin Startup Makes Charitable Giving as Easy as Online Banking

bcause founders Nicole Weyde and Felix Oldenburg

bcause founders Nicole Weyde and Felix Oldenburg - © bcause

Berlin-based fintech startup bcause has secured €4.2 million in Series A funding to advance its mission of making strategic social engagement as simple as possible. According to an article in VentureCapital Magazin, the Mast family behind Jägermeister leads the investment round, with BonVenture and IBB Ventures joining as the first institutional investors.

The digital foundation platform, launched in late 2021, has already attracted over 2,000 users, including prominent figures such as startup association chief Verena Pausder, TV personality Dr. Eckart von Hirschhausen, and serial entrepreneur Anna Alex. Existing shareholders, including Andreas Haug (Headline) and Martin Weber (Holtzbrinck Ventures), have also increased their stakes.

"We're living in times of great social challenges while donation volumes and donor numbers are declining," explains Felix Oldenburg, CEO of bcause and former Secretary General of the Association of German Foundations. "Wealthy individuals often donate less than they intend to due to the lack of modern platforms and offerings. We're changing this by digitizing and democratizing foundations and impact investing."

The fresh capital will fund platform development, including new investment options and expanded impact investing capabilities. The company also plans to introduce loyalty programs to enhance user engagement.

Investment Director Clemens Kabel of IBB Ventures highlighted the platform's potential: "The business case is compelling, and the market for this business model remains largely untapped. We see significant return potential for our investment."

The startup distinguishes itself through a legally proven charitable trust foundation model with an independent foundation board, while innovation comes through its digital platform and community approach. Originally available to selected entrepreneurs, bcause opened its platform to the public in summer 2023.

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