UK fintech Chippingin provides crowdfunding for kids
UK-based fintech Chippingin has launched to provide a digital platform for children to crowdfund birthday presents.
The firm claims to be the first of its kind, being specifically aimed at children. Its platform allows users to ask friends and family to contribute to a birthday present of special gift.
Chippingin says it offers a digital solution to showcase “what the child really wants”.
“Kids who have goals – whether creative, academic, or even personal ones – will do better in life than kids with no plan at all,” the firm says on its website.
“We created Chippingin to offer children a platform that helps them set financial goals for gifts and experiences they really want, create a short pitch and share this with loved ones.”
Users can create goals, set details, and share the target over social media or email. Bank account integration allows withdrawal of funds afterwards.
Accounts on the service are free, and the firm deducts a “small fee” from the total raised. Extra costs may also be levied by a banking partner.
Chippingin is founded by Gaia Beck, who also created dating events company Cocktails & Conversation.
Beck says the idea of Chippingin came from her son wanting a birthday present from relatives during the coronavirus lockdown in London.
She gives equal credit to her son Michael, who wanted his family to help him pay for a saxophone.