Key Takeaways
- Buengo is a London-based start-up disrupting the traditional process of charity funding.
- The app allows users to sell unused items and donate the proceeds to good causes.
- Charities, community groups, and personal causes can raise more funds efficiently.
- The business model balances capital gain and social responsibility, charging causes 5% of funds raised.
Charity funding has existed for centuries as a means to support social initiatives and the less privileged. Traditionally, direct donations, sponsorship, and volunteering have been the prevalent methods of contributing to these causes. A UK-based start-up, Buengo, is now challenging this norm with an innovative app that combines e-commerce and social impact in the sharing economy.
Essentially, Buengo serves as an online marketplace that allows users to sell items they no longer need and donate the proceeds to charities or good causes. For sellers, this new model offers the opportunity to declutter, while buyers can find trustworthy bargains. The main beneficiaries, however, are the charities, community groups, and personal initiatives that the sellers choose to support.
Buengo blends the fast-paced world of e-commerce with the noble cause of social impact. Far from demotivating users to sell off items they no longer need, it inspires them with the prospect of contributing to good causes for each sale. Through this, Buengo promotes the virtue of recycling, ensuring that reuse becomes an act of goodwill.
Moreover, Buengo is set apart by its business model. Interestingly, it does not leverage ads or in-app purchases to generate revenue. Instead, it charges a minimal 5% from the funds raised for a cause. By doing this, Buengo strikes a fine balance between enjoying a viable business model while fostering a culture of social impact and giving back to society.
The future of charity funding appears to be shifting toward a model that integrates e-commerce with social causes, riding the wave of the sharing economy. Buengo, as a pioneer in this domain, is poised to influence significant change in the sector. Moreover, with sustainability becoming increasingly prioritised, such apps may face a future where they become the basis for conscious consumer purchase decisions.
Watch out for more from this amazing startup and join their journey on their various platforms: Website, Twitter, Facebook and LinkedIn. Founded by Alex Hancock and Fela Hughes, it promises to revolutionise the non-profit sector one transaction at a time.
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