True Given— Connecting Philanthropy To Community
The Problem
Too many honest hardworking families struggle to make ends meet and, through no fault of their own, find themselves in serious financial trouble. The effects of these hardships not only affect these families and communities but also future generations. While there are organizations and philanthropists willing to help, they struggle to effectively deploy their capital at scale, for three reasons: a lack of time, a lack of expertise and a desire to keep the infrastructure lean.
What The Company Does
Designed around the values of inclusion, accessibility and efficiency, True Given’s multi-sided platform makes it easy for organizations to, manage funds, verify applicants and deploy payments. This allows beneficiaries to request and receive cash grants and helps philanthropists identify and support charitable organizations of their choice effortlessly. True Given’s approach is to create an aggregated value by providing a platform for organizations such as foundations, non profits, government agencies and corporations to leverage the connections with local organizations to move resources to support communities and in need of resources.
Market
True Given’s potential market is two sided, the customer and the user. According to Giving USA, in 2019 alone, the total amount given by Americans, human services and social sector organizations was $93.16B. True Given is well positioned to capture at least 1% of market share in human services and social sector organizations space. On the other hand 77M adults cannot cover an unexpected $400 expense with savings, and about 125 million Americans have a financial shock each year. Competitors include Go FundMe, Give Directly and Fundly. True Given’s advantage resides in their approach and deep knowledge of their customers and users. They are pioneers in strategic direct impact-related giving. By including the local charitable organizations as a crucial part of their hyper-localized solution of impact related giving, True Given doubles the impact of a donation, helping the beneficiary by connecting them with cash relief funds and injecting vital funds directly into the local economy.
Business Model
True Given is monetizing in three ways: subscription fees from organizations using the technology, a platform fee where True Given takes a percentage of funds administered through the platform and advertising fees from fintechs, financial institutions and non-profits looking to offer their products to the users on their platform.
Traction
True Given participated in the E for All accelerator as well as the Valley Venture Accelerator Program. They have since generated over 20k in total revenue and have successfully completed their first pilot program with two non profit organizations and are now starting their second pilot program.
Founding Team Background
True Given is founded by CVO and Interim CEO, Babatunde Ajao. Previously, worked as Innovation Strategist for a national non profit to discover ideas, test solutions and identify scalable products for fintechs, foundations and corporations.
The Ask
True Given is looking to form an advisory board and consequently looking for intros to high performers and influencers in the philanthropy, AI, research, financial services and non-profit space to create a superstar team. They are also looking for intros to foundations, higher education institutions, employers and non profits looking establish cash grant programs. Connect With The True Given Team.
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