Wednesday, October 18, 2023

Pledge Hits $100M Donation Milestone

Los Angeles-based charitable fundraising platform Pledge, led by serial entrepreneur James Citron, says it has hit a $100,000,000 donation milestone, raised for more than 50,000 nonprofits. The company is backed by Maven Ventures, Zoom Ventures, Designer Fund, the Chainsmokers's Mantis Ventures, and angels including Randi Zuckerberg and Bill Tai. The company says that, unlike the rest of the fundraising industry, it does not rely on processing fees for its service, which it says averages 3% of every donation elsewhere; Pledge says it pays the credit card processing fees on donations up to $1000 each, thus passing 100% of donations to the nonprofits and charity organizations in its database.