Fana launches to unite enterprises, charities and consumers on one platform
UK-based start-up Fana has opened its virtual doors as it aims to bring together non-profits, e-commerce and consumers on one platform.
Founded earlier this year, Fana claims to be “the world’s first and only philanthropic community for mobile native users”. It will primarily target Gen Z and millennial consumers, “a segment of the population that has a lower affinity with charitable giving yet are highly concerned about social and environmental issues”.
The web-based and mobile app solution will be initially available in the US and UK.
Fana is working with non-profits and online merchants across various sectors with the aim to create a convenient, checkout-linked donation function that is connected to an in-app “giving wallet” held by the consumer.
Donations are funded by the merchant, who adds a percentage of the basket size at each checkout.
In app, users will be able to allocate these donations to the participating non-profits, creating a portfolio under “My Impact”. Users also have the option to add a small sum of their own.
“Instead of commercial brands giving large budgets to a single charity of their choice, we will now enable consumers to make that choice personally, one dollar and one checkout at a time,” explains Robin Yan, Fana’s co-founder and CEO.
“We are effectively blending the younger generation’s trust of e-commerce brands with the power of giving. This is done by providing a no-fuss, transparent platform that makes donating easier and rewarding.”
Fana’s proprietary API integrates with various commerce platforms and checkout tech stacks.
According to recent research by ThirdSector, 50% of younger generations have not yet chosen a charity to support, stating that a lack of personal choice, no visibility on what happens to their donation, no sense of reward for their efforts and the rising cost of living hampers their willingness to give.
From a merchant perspective, research by Amasty indicates that 66% of consumers are prepared to pay more for products from companies that support charities and have a social position like their own. Furthermore, the research suggests that using checkout donations can significantly increase sales.
“The way in which younger people see charities has changed,” explains Ben Wintour, founder of Steel Warriors, a UK-based charity that combats knife crime. “Gen Z and millennials have a strong affection for purpose-driven brands. We’re excited to collaborate with Fana to tap into these hard-to-reach generations. It’s a great new way of thinking!”
Fana is currently preparing to open its seed funding round. According to Crunchbase, it raised $750,000 pre-seed.