Surrey CEO receives rare investment offer on Dragons' Den
- Credit: BBC
Social charity app Toucan – whose CEO is Dorking raised Matt Crate – appeared on BBC One’s Dragons’ Den on February 17 and received an unusual offer from all five Dragons…
CEO Matt Crate and Head of Product Melody Truong pitched the charitable giving app, aimed at millennials, to Touker Suleyman, Sara Davies, Deborah Meaden, Peter Jones and Steven Bartlett.
After a three-minute pitch, Crate and Truong faced intense questioning from the experienced entrepreneurs as they assessed whether to invest in the start-up business, which aims to propel charitable giving into the new digital era.
Led by Touker Suleyman, all five Dragons made an offer to invest in Toucan. The Dragons showed support for the company’s mission and proposed a five-way deal at 2% each to Crate and Truong.
In dramatic scenes, Crate and Truong negotiated newest Dragon Bartlett down to a 7% share in the business for £85,000. Having discovered Bartlett’s podcast in the early days of Toucan, Crate was keen to present the business to him. He applied for the Den after Bartlett’s casting was confirmed, covering the first page of his application with the words ‘FOR THE ATTENTION OF STEVEN BARTLETT.’
Matt Crate says: ‘It was an honour to step into the famous Den and pitch Toucan to five brilliant entrepreneurial minds. Toucan taps into a gap in the market by bringing a much-needed digital revolution to charitable giving, at a time where charities are struggling more than ever due to the impact of the pandemic on their funding.'
He continues: ‘We want to build a world where giving is second nature, and where our users can show what they stand for, by making donations fun, flexible and accessible to all.’
Developed by a team of fintech and charity specialists, Toucan has put the needs of charities and the good intentions of donors at the heart of its ground-breaking product. Toucan’s digital-first approach to giving helps to bridge that gap, making donating fun, flexible and accessible to all by re-defining charitable giving.
Watch the episode on BBC iPlayer
Download the Toucan app from either the App Store or Google Play