Revolut will allow users to donate to the homeless through crowdfunding platform Beam – TechCrunch

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The world is entering a huge crisis in the cost of living, which will inevitably lead to an increase in the number of homeless people. But donations to the homeless are not yet fully digital.

Challenger Bank Monzo has allowed the opening of limited accounts for homeless people using methods like a benefit letter or from a homeless shelter, for example. But the solutions are piecemeal.

However, with many homeless people now packing smartphones, there should ideally be simple ways to support them rather than dismissing an excuse not to carry cash.

Since its launch in 2017, social enterprise Beam has run a platform where homeless people can fund themselves. For example, here is Ali who wants who wants to move into a stable house.

Beam says he has since raised £3.2million from members of the public and supported more than 850 homeless people into stable jobs and homes by connecting them with plan-vetted landlords and employers. ethics.

Beam currently operates in England, Wales and Scotland, and plans to launch internationally in the coming year.

It’s now partnering with fintech unicorn Revolut to allow users to donate directly to the homeless through the Revolut app, making it the first UK homeless organization added to the Revolut Donations feature. Revolut claims their donation program means that 100% of the money goes directly to the chosen charity or organisation.

Revolut users will now be able to donate to Beam, helping homeless people raise money for training, work tools, travel expenses, childcare or rental deposits, directly through the application. Funds donated to Beam through Revolut Donations are distributed equally among Beam beneficiaries. The impact of donations can be seen via Revolut’s impact page.

Beam claims that 100% of recipients reach their goal within an average of 16 days.

Commenting in a statement, Alex Stephany, Founder and CEO of Beam, said: “Just as Revolut has empowered customers to get more out of their money, Beam shows there is a new way to support homeless people in long term.”

Christopher Guttridge, Managing Director – Lifestyle Products, added: “By enabling users to make an electronic donation and passing on 100% of the donation to those who need it most, we hope the Revolut community can support the great work of Beam and its technology. do to solve homelessness.

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