On Tuesday, crowdfunding portal Crowdfunder UK announced it has teamed up with Santander to launch a £200,000 fund, called Changemaker, that is dedicated to social enterprises and community projects across the UK.
According to the funding platform, the new fund is open to social enterprises, small charities, and community groups that are assisting disadvantaged people in the UK. Those eligible projects that are seeking up to £20,000 and are focused on skills, knowledge, and innovation must get the crowd’s backing to receive 50% of their funding requirements from Santander. The companies noted that the fund is part of Santander’s flagship community program, The Discovery Project. This project aims to inspire people to have confidence in the future through projects that build skills, grow knowledge and support innovation.
Speaking about the collaboration, MD of Crowdfunder, Phil Geraghty, stated:
“The new partnership between Crowdfunder and Santander is a key milestone for the crowdfunding industry – opening up powerful networks and opportunities between the banking sector and the next generation of ’changemakers’. It also offers long term economic impacts by supporting social enterprises alongside the immediate benefits of helping people make their great ideas happen.”
Managing director of Santander Business Banking, Sue Douthwaite, commented:
“Our purpose is to help people and businesses prosper and we recognise the important role social enterprises and charities play in helping communities to thrive. With the power of the Crowd, our £200,000 Changemaker Fund will help bring great ideas to life and enable social enterprises and community ventures to grow.”
Crowdfunder UK and Santander added further funding would be released in 2017.