After 3 years of incubation inside Nesta, Crowdfunder have acquired Rocket Fund with the ambition to scale it to help every school in the UK.
Below is the full story, here are the key points:
- Crowdfunder aims to scale Rocket Fund and transform traditional school fundraising by providing coaching, rewards-based giving and access to extra funding through their private sector partnerships.
- Rocket Fund founder Ben Gill will join Crowdfunder from Nesta to lead the project.
- Crowdfunder is the UK’s #1 rewards-based crowdfunding platform where over £75m has been raised for community causes and projects that aim to tackle societies challenges.
LONDON, 16 March 2020 Crowdfunder, the UK’s #1 rewards-based crowdfunding platform has today announced their acquisition of Rocket Fund, the UK’s #1 crowdfunding platform for schools.
Rocket Fund will retain its own brand and website, while schools will gain access to a whole host of Crowdfunder benefits including coaching, rewards-based giving and the opportunity to apply for match funding from a pot of £1 million provided by partners such as Aviva, M&S and RBS grants.
Since Rocket Fund’s inception, schools have launched 500 crowdfunding projects raising £400,000 and benefitting 125,000 students. Crowdfunder will scale the platform to enable access for every school in the UK.
Rocket Fund was created and incubated at Nesta. Ben Gill, Rocket Fund’s Founder will join Crowdfunder to lead its expansion. Alex Hook, from Nesta, is already on the Crowdfunder Board.
Rob Love, Founder and CEO Crowdfunder, said:
“Schools fundraising has always existed. Shifting these efforts online is turbocharging the amount schools can raise, the number of people they can reach for support and reducing the time and effort required. Crowdfunder will harness this and level the educational playing field – helping schools in less-privileged areas to connect with the wealth so enjoyed by schools in more affluent areas.”
On average private schools raise £667,000 per year, while their state school counterparts lag behind: the most engaged state school PTA’s raise an average £8,000 a year and spend 270 hours a year.
Future First’s research found that state schools miss out on £100m untapped cash from their alumni every year. Using crowdfunding to reach alumni members could double the amount raised by PTAs at the moment.
Ben Gill, founder of Rocket Fund, will join Crowdfunder to lead on the integration said:
“I’m really excited about Rocket Fund becoming a part of Crowdfunder, as it will enable us to supercharge our impact. We want to take Rocket Fund to every school in the UK and help them to raise more money, more easily. From VR headsets to outdoor nature projects, it’s incredible to see the things that schools are already fundraising for. I’m looking forward to seeing what they do next, when we encourage them to dream bigger with the support and extra funding available from Crowdfunder.”
FAQs for previous users
Q. Will I have to create a new Rocket Fund account?
A. Yes, but it is super easy to do. Just go to: www.rocketfund.org
Q: Will my old Rocket Fund projects be visible on the new platform?
A: Not yet, but we’re working on this.
Q: What are the main benefits of the merger?
- Better website & payment processing
- Schools now have access to over £1m of match funding from Crowdfunder’s partners.
- Expert coaching from the Crowdfunder support team (they’ve already helped people raise over £75m! And want to help schools to do the same)
Crowdfunder is transforming the way people raise money in the UK for the causes that matter most to them. With a passion for tackling societal challenges, Crowdfunder supports projects that are aiming to make a positive difference in the world.
Over £75 million has already been raised on Crowdfunder by thousands of businesses, social enterprises, charities, community groups, and individuals across the UK. The total number of projects added to the platform to date stands at over 173,000, with 50,000 daily visits and up to 250 Crowdfunder projects added daily.