Digital donation tech firm GWD has landed £750,000 of equity investment from a key northern fund.
The Sheffield-based firm received the injection from the Northern Powerhouse Investment Fund Maven Equity Finance managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund, delivered by the British Business Bank. GWD - founded by Marek Narkiewicz and Ben Widdows - offers socially-minded organisations the tools to gather donations.
It says its contactless fundraising device, the Donation Station, uses interactive storytelling to engage donors and creating a lasting impression of a fundraising cause. Hundreds of the stations are in use across the country for organisations across the third and corporate sectors and including places such as libraries, gardens and museums.
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The investment will be used accelerate key product development and add new service lines.
Marek Narkiewicz, co-founder and CEO of GWD, said: "From the first meeting we were confident that Alex and Maven were the right funding partner for GWD. We have a fantastic team and a mission to bring innovative technology to right where it’s needed and Maven immediately saw the value in that. I’m excited to push on with their support and to continue serving our clients."
Alex Rothwell, investment director at Maven, said: "We are delighted to provide funding to GWD as it enters its important scale-up phase. GWD have market leading products in sectors that are rapidly growing, with great potential to expand the business rapidly. I am excited to be working with Marek and Ben and the rest of the team."
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