Revolut‘s 20 million users will now be able to donate directly to Beam, a social enterprise that supports homeless people into stable jobs and homes, via the fintech’s app.
Revolut has now added the charity to its app’s donations feature, which will allow its users to donate towards the cause and help homeless people raise funds for training, work tools, travel costs, childcare and rental deposits.
Since launching in 2017, Beam has crowdfunded more than £3.2million from members of the public and supported over 850 homeless people into stable jobs and homes. Beam currently operates across England, Wales and Scotland, and plans to launch internationally in the coming year.
Funds donated to Beam through Revolut Donations will be distributed equally among Beam’s beneficiaries, who each get their own ‘crowdfunding’ profile on Beam’s website; eliminating financial barriers and the need for cash-grabbing middlemen intermediaries.
The social enterprise then connects the homeless with ethical landlords and employers in sectors ranging from construction to healthcare.
Pioneering the necessity for full transparency within the donation process, the fintech’s users will be able to track the impact of their donations through the embedding of Revolut’s impact page on the social enterprise’s website.
This allows them to follow the progress of the people they’ve supported and send messages of encouragement to spur them on. One-hundred per cent of beneficiaries reach their target within an average of 16 days, making Beam one of the most efficient ways to support homeless people in the UK.
With Revolut Donations, every single penny goes to the chosen charity or organisation. Users can choose to set up recurring donations, spare change donations, or make a one-off donation to a cause of their choice.
With access to the fintech’s 20 million users, Beam’s founder and CEO, Alex Stephany, comments: “Just as Revolut has empowered customers to make the most of their money, Beam is showing there’s a new way to support homeless people for the long-term: by giving them the skills, tools and confidence to earn a living and become financially independent.”
Adding to this, Revolut’s Christopher Guttridge, general manager of lifestyle products, said: “By enabling users to donate electronically, and pass 100 per cent of the donation to those who need it most, we hope that the Revolut community can support the great work that Beam and its technology is doing to solve homelessness.”
Image and article originally from thefintechtimes.com. Read the original article here.