Funder is one of five finalists in the Local Communities category of the prestigious Visa Everywhere Initiative to win up to €50,000 and a development partnership with the card giant.
Visa invited eligible participants in Europe to submit their business solutions that apply to one of the following three briefs:
- Local Community Challenge: How can digital payment technologies help create products that connect people and enrich local communities?
- Regional Intercity Challenge: How can mobile technologies and connected devices transform the experience of intercity travel?
- International Travel Challenge: How can new products and services, based on Visa APIs, deliver a more seamless international travel experience?
More than 300 applied and the only Swedish startup that made it was the fundraising tech startup Funder. Funder was awarded a place in the finals for the Local Community Challenge with its sustainable fundraising product, which aims to revolutionise fundraising for small and medium-sized organisations by building long-term relationships with their supporters in order to make their fundraising profitable.
The Visa Everywhere Initiative has previously run in the USA, Latin America and Asia and comes to Europe for the first time in 2017. Startups from 19 European countries have competed to reach the finals which will be held at the Money 20/20 conference in Copenhagen on 26 June.
CEO, Adam Hasslert said:
"We're really excited to reach the finals of this prestigious competition. It would be fantastic to work with Visa on this challenge. Many of Europe's smaller nonprofits, clubs, associations and charities have their roots in the local communities they serve, but unfortunately 90% of current fundraising campaigns fail.
Funder want to help those organisations make fundraising sustainable through our technology. By increasing their efficiency, we enable them to have a greater positive impact on those local communities."