Every year, donors contribute billions of dollars to donations, yet the donation process still feels old and cumbersome. Founders Dan Iblagan and Ron Levi believe that there is an easy way to donate, which creates construction Prohibit:A platform that is designed to facilitate a more modern and well -organized approach.
The platform (not a singer of the same name, not a singer of the same name) focuses on connecting users with the selection of weaved charities, due to which they care, such as climate crisis, LGBTQ+ rights, animal suffering, and more. The users set a monthly plan, starting at $ 5 per month, and the bono automatically distributes funds to the chosen donation.
The company on Monday announced its official launch, which coincides with a $ 1.6 million pre-seed funding round.
This new capital will be used to enhance the user experience, including the AI-operated chatbot that matches the donors with appropriate donations. The feature is currently in a pilot phase and is expected to be launched to the public by September.
The concept for Bono originated from a phone call ebalagon, received from a telemarketer received for a charity, which he claimed that he had previously contributed.
“On one side, I liked that I had donated and they remembered my donation, but on the other hand, I did not remember this charity or what effect it had,” Ablagan told Techcrunch. “It sent me down the path of desire to create a modern platform that disrupts the old way of giving. I knew that making phone calls based on old donation records had no details on things like impacts or interests.”
To keep users attached and informed, Bono provides a weekly effect report, stating how and where there is a difference in their donation. For example, it shows how many food or mental health sessions were there for their donation. There is also a mobile app (available) IOS And Android Equipment) to see their annual effect.
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Another way is to modernize the bono experience, it is to help them to pay for their efforts, by partnership with the creators to help raise awareness.
Bono has three types of models: flat-fee campaign, where paid to promote influential people; Revenue sharing of affiliated-style, where manufacturers earn on the basis of performance; And donated commissions, which allow the creators to donate their share to promote their share of earnings back.
Some people may see these arrangements as a moral gray field. However, according to the Iblagan, the “most creators” prefer the third option, contributing to the reasons they care for.
He said, “This is not just about promoting another product; it is about standing for what they believe, showing the deep side of their personality.
Currently, Bono has more than a dozen manufacturer partnerships.
Bono soft-launch was done in December to respond to the demand of donors wishing to support the victims affected by the Los Angeles Wildfire. Since then, Bono has expanded its access to all 1.5 million charity in the US with only 100 charities, with an average donation around $ 20 per month. Some donors also contribute more than $ 1,000 per month.
All non -profit organizations depicted on bono are registered in the US and should meet specific standards. The company says that it needs a rating of above 8.5 on websites like Charity Navigator and Guidstar. A strong social media appearance is also important.
The funding round was led by Pragati. Along with the participation of several Angel investors, who are senior officers in key companies including Amazon, Google, Microsoft, Intuit and X/Twitter.
