Creative Economy | November 30, 2020 raises $8.7 million to democratize donor-advised funds

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 30 — The Charlotte-based fintech startup is seeking to make it easier for everyday savers to take advantage of the tax and other benefits of donor-advised funds.

Amicus’ DAF 2.0 can be built into consumer banking apps, allowing users to move money from checking, savings and investment accounts into donor-advised funds, from which they can direct funds to 1.8 million U.S.-based nonprofits and philanthropic organizations – and receive automated tax receipts for their donations.

Amicus has launched DAF 2.0 with one unnamed U.S.-based bank, co-founder and CEO Cor Hoekstra told ImpactAlpha.

The company already has plans for the next phase of DAF 2.0. Amicus is looking to bridge the communication gap between donors and charities, allowing charities to tell their stories in terms of outcome and impact.

“Our vision is a more generous world where everyone can be a philanthropist, and wanting to be a part of the solution and contributing is something that everybody wants to do,” said Hoekstra. “Bringing the tools of the 1% to the 99% is what Amicus is all about.”

Amicus’ Series B round was backed by Vancouver-based family office The FR Group and the Wells Fargo Startup Accelerator.