Montreal’s Simplyk has closed a $3.7 million seed funding round led by Ring Capital with additional funding from strategic investors including Real Ventures and Panache Ventures.
Simplyk has created North America’s first 100% free online fundraising platform for non-profits.
Non-profit organizations in North America spend more than 10 billion dollars in online fundraising fees each year, and this number is growing by more than 10% year-over-year. Platform and processing fees make online fundraising prohibitive to non-profits, which need to demonstrate high efficiency and low overhead.
Simplyk solves this problem by offering a fundraising platform that allows non-profits to create donation forms, sell tickets for their events, run peer-to-peer campaigns, or raise money in any way they like — all at no cost and with no transaction fees.
Unlike other platforms, Simplyk earns revenues exclusively from optional contributions that donors can add at the end of their transaction.
“Fundraising technology is critical to non-profits’ success but eats up too much of the funds they need to raise,” said François de Kerret, Simplyk’s CEO. “We fixed this vicious circle by providing tools that allow nonprofits to keep every dollar their donors pledge. With Simplyk, nonprofits can raise more money, more easily, which lets them focus on their mission and direct more funds to those in need.”
In less than three years, Simplyk has signed up more than 4,000 non-profits including branches of Big Brothers Big Sisters, YMCA and United Way. Collectively, these organizations raised more than $30M on Simplyk’s platform.
Simplyk will use the funds to expand in the United States, as well as adding donor intelligence capabilities to its platform so that charities can manage their supporters’ data, engage with them more efficiently and grow their budget.