An indigenous start-up called Donate-ng has increased its revenue through the increment of its crowdfunding platform.
The start-up was founded in 2015 with the aim of connecting the less privilege, individuals, charities and non-profit organizations seeking financial assistance with willing donors/philanthropists.
Donate-ng operates by charging specific fees on donations, and this has seen its revenues grown annually. All the donations made through its platform thus far. has exceeded $140,000.
“so many Nigerians are in search of social goods, charitable organisation and non-profit campaigns that they can freely donate to without the challenge of direct involvement or undergoing a KYC process,” stressed Oluwasegun Olojo-Kosoko, co-founder and chief operating officer (COO) of donate-ng.
Olojo-Kosoko further stated that “ever since we launched, our revenues have increased year-on-year. For example, in 2018, we almost doubled our 2017 revenue, and we are hoping for the same this year, based on our forecast.”
The idea to initiate the startup arises due to what Olojo-Kosoko described as a strong problem that needs to be fixed urgently.
“Before Donate-ng came on board, almost every fundraising for Nigerians in Nigeria always ended up on crowdfunding portals like Kickstarter, GoFundMe, etc. If not any of these crowdfunding portals, the campaign was raised and the funds are directed into peoples’ personal accounts, who either absconded or do not fully remit the funds raised.” Olojo-Kosoko stressed.
Donate-ng is an encompassing platform through with everybody can access and come out feeling satisfied.
“We notice that Nigerians often struggled to raise funds for just causes and we wanted to do something about it. We carried out market research and gradually the idea of Donate-ng becomes a reality.” Ayodele Amusa co-founder Donate-ng
Oluwasegun Olojo-Kosoko and Ayodele Amusa started the venture via bootstrapping but for the business to scale more funds need to be injected and this has prompted Donate-ng to seek external investment to grow.
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