Most people don’t carry cash on them anymore. It’s just easier to use a card for purchases, and in this new normal of touchless interactions and social distancing, it’s also a safer way to pay for things.
But this shift away from cash also means charities are suffering. You know those small cash and coin donation boxes you used to find at the checkout counter? They just don’t really exist anymore, taking away an important source of income from charities.
Canadian startup tiptap is determined to find the solution to this new problem. In the fall of 2020, they launched their FrontFundr campaign with the goal of funding the production and distribution of their touchless giving devices for charities across North America.
FrontFundr is Canada’s leading online private markets investing platform. They provide startups and growth companies access to capital, giving investors access to private companies they believe in.
tiptap is the world’s smallest fixed-amount touchless payment receiver. For the device to start collecting donations, it simply needs to be turned on — there’s zero need to download or use any extra apps, devices, or WiFi. It’s just as easy as donating your extra small coins used to be, only you can do so with the simple tap of a card.
According to The Salvation Army Canada, the request for services in some locations across the country is five times greater than pre-pandemic levels. This is why tiptap began a partnership with The Salvation Army Canada to roll out 1,500 of these new devices.
The technology also comes with a helpful reporting platform so charities can see where every dollar is coming from. This includes geo-tracking and real-time notifications about where people are giving and when.
With this innovative idea, new technology, and proof in this partnership, investors have taken notice of the potential. Since November 24, tiptap has raised over $5 million from over 290 investors.
“Our purpose is to help those who need help the most. More than ever now, charities are suffering with some of the lowest collection rates ever, but the demand has multiplied more than six-fold for their assistance,” Chris Greenfield, CEO and founder of tiptap, said in a recent interview with FrontFundr.
tiptap’s objective is to reach $10 million in funding, and they’re looking for individual investors to make that happen. Think of it as a chance to invest early in a piece of the future — and to help charities who are looking for a cash replacement solution. Investing just a little — as low as $250 — means tiptap can get to a place where they can supply touchless giving devices to charities when they need it the most.
By supporting tiptap, your investment can make a ripple effect that will arm charities with this new technology to collect and help as much as possible.
Every single cent counts, especially right now. The $10 million tiptap hopes to raise through their equity crowdfunding campaign will have a multiplying effect. Your investment will help tiptap get devices to the charities who need it most.
If you’re looking for ways to support local businesses and charities, this is a great place to start.
Learn more and invest today via the FrontFundr campaign page.