For the first time, one of the UK’s leading banks is partnering with a crowdfunding platform in an innovative collaboration to support social enterprises and community projects across the UK.
Inspirational community projects looking to support social change are now able to present their ideas on Crowdfunder.co.uk and unlock matched funding of up to £10k from Santander’s new Changemaker Fund.
The new fund, www.crowdfunder.co.uk/changemaker, which launches today is open to social enterprises, small charities and community groups helping disadvantaged people in the UK. Eligible projects seeking funds of up to £20,000 and focussed on skills, knowledge and innovation that get the crowd’s backing will receive 50% of their funding requirement from Santander.
This revolutionary partnership not only bridges the gap between traditional and alternative finance but it also paves the way for closer relationships between banks and the crowdfunding sector.
Phil Geraghty, MD of Crowdfunder said: “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.”
Sue Douthwaite, Managing Director of Santander Business Banking, 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.”
Changemaker is part of Santander’s flagship community programme, The Discovery Project, which aims to inspire people to have confidence in the future through projects that build skills, grow knowledge and support innovation. By working together with Crowdfunder on the new fund, Santander aims to enable entrepreneurs and community groups to tackle social challenges and create positive local impact.
As well as access to the £200,000 matched funding from Santander, projects will benefit from the Crowdfunding team specialists with education, enterprise and coaching support to unlock the further funds and create lasting impacts in communities across the UK. Further funding will be released in 2017.
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Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its innovative products for retail customers and relationship banking model for UK SMEs. As at 30 June 2016, the bank serves around 14 million active customers with c. 20,000 employees and operates through 847 branches (which includes 58 university branches) and 69 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, based in Spain, with a meaningful market share in 10 core countries in Europe and the Americas. Santander is the largest bank in the euro zone by market capitalization and among the top banks on a global basis. Founded in 1857, Santander had EUR 1.52 trillion in managed funds, 12,500 branches and 190,000 employees at the close of June 2016. In the first half of 2016, Santander made underlying profit of EUR 3,280 million.