Social Commerce

Transparency for people donating money

Greenbank Capital purchased a 25% shareholding in Flex Capital, a company that has developed a donating app, designed to radically improve transaction transparency for people donating money across a variety of industries and encourage communities of donors to communicate together and develop, from football clubs to charities and everything in between.

The charity sector, for example, receives many tens of billions of dollars of donations per annum worldwide, but the level of transparency in how the money is spent is minimal, and the related gratification a donor receives – as a result of not knowing how the money they donated has tangibly helped – is therefore correspondingly small.

In contrast, if a donor knows that the money they have donated is helping a specific good cause and can actually see the manner in which their specific contribution is deployed, the level of donor gratification – and therefore willingness to help more – radically increases. The Eflex app not only provides that level of transparency, but also encourages communities of donors to develop as like-minded people see their collective donations at work, which in turn can help promote the good cause by encouraging others to join.

Eflex will generate revenue by charging a transaction fee from each transaction processed through the app and by providing service support where needed. Total transactions are expected by Eflex to eventually exceed C$1bn per annum.