Copenhagen-based platform Contribe, which allows users to engage with on-brand impact projects by making online purchases, has secured €1 million in a pre-seed funding round. The investment came from the Export and Investment Fund of Denmark (EIFO), Rockstart, Human Act Development, and several angel investors.
- Founded in 2023, Contribe develops a platform to empowers consumers to support social and environmental causes through their everyday online purchases, with a goal of reaching one million users by the end of 2025.
- The startup offers products and services to e-commerce businesses across various sectors, including fashion, retail, accessories, food, beverages, travel, and hospitality. Contribe emphasizes social and environmental impact, supporting causes in education, mental health, women’s empowerment, and healthcare.
- Contribe has already acquired over 100,000 users across 52 countries. The startup reports that brands see 5.4 times higher conversion rates, an 11% increase in average order size, 39% better customer retention, and 24% greater customer satisfaction, using its software.
Details of the deal
- The fresh capital came from the Export and Investment Fund of Denmark (EIFO), a state-owned financial institution, Amesterdam-based VC Rockstart, and Human Act Development.
- The investment also saw participation from several angel investors, such as Morten Bæhrenz, founder of Rackbeat; Jonatan Hjortdal, former Legal Director at Preseed Ventures; and Maria Krogh, Chief People Officer at Rackbeat and former HR Director at Pandora.
- With the capital raised, Contribe plans to develop its product and expand the market reach, all to enhance businesses through the power of positive impact.
