Pitchfest: Lee Clark of GivePenny

Pitchfest: Lee Clark of GivePenny

Founder and CEO of GivePenny, Lee Clark, runs a website which is bringing giving to charity into the online age, in a fun and exciting way. Due to pitch to a panel of judges at next week's Pitchfest, he caught up with BQ to tell us more...

Describe your business in no more than 100 words.

GivePenny.com is the fun new way to raise money for charity online. Fundraisers can be sponsored small amounts for reaching little goals, not just lump sums for large achievements. If fundraisers can count it, they can be sponsored for it and the more they do, the more money they raise. Fundraisers can even use lifestyle apps to automatically track progress and directly connect pledged-donations to their fundraising total.

 

What prompted you to enter Pitchfest?

We’re a start-up with disruptive ideas looking for investment to help establish our place in the market. We noticed Pitchfest in the local press and saw it as a fantastic opportunity to work on our investment pitching skills as well as a way to spread our message in the investment community.

 

What are you looking to fund with this investment?

We are looking to use investment to aggressively grow the business and help us develop the next evolution of our website, which will include improvements in user experience, connections to more lifestyle apps and development of our smartphone apps

 

Who inspires you to do what you do?
I’m inspired by anyone who pushes themselves to do great things. As you can probably imagine, I have come across some amazing stories in the UK’s charity sector. Knowing our ideas can help charities to raise more money and inspire the next generation of fundraisers gets me out of bed in the morning with a spring in my step!

 

Have you explored any other avenues of funding?

Yes. We were recently listed on equity crowdfunding platform Seed EIS Platform and were shortlisted in the Virgin Media Business VOOM competition, which has created some interest from investors.

 

How do you differentiate your business from others?

Other charitable giving websites process up-front donations, often for the promise of a future achievement. GivePenny.com brings back pledge-based fundraising and integrates the data we generate every day to fundraising challenges to make it more fun!

 

Where do you see your company in five years time?

Using business principles as a superpower for good, we expect to be profitable and have helped to generate over £50m in charitable donations for over 1500 charities, having disrupted the online giving sector and established ourselves as one of the best pledge-based fundraising platforms in the UK.

 

Who would your dream customers be?

Whilst every one of the 160,000+ charities in the UK are welcome to partner with GivePenny, we would love to work with the top 10 charities, which includes the likes of Cancer Research UK, British Heart Foundation, Macmillan Cancer Support and Oxfam.

 

How far is your productservice away from being market ready?

We launched the first version of GivePenny.com in January, so we are right at the beginning of our start-up journey. We already have 16 charities accepting donations through our platform and have processed over £6,000 in donations, all without any significant marketing activity!

 

What is the one thing you hope investors take away from your pitch?

I hope they recognise the significant market opportunity to invest in the team at GivePenny and enable us to continue to disrupt the online giving sector, which is currently part of a £10b industry.