bcause: Fintech Platform for Common Good Gains Traction
bcause, a novel Fintech platform focused on the common good, has swiftly gained traction since its inception. Founded by Felix Oldenburg, who drew inspiration from his role at the German Foundations Association, bcause has amassed 2,500 users and facilitated over 20 million euros in transactions within two years of its test phase.
Unlike traditional banks, bcause is not a financial institution but rather a non-profit initiative. Its funds are held by a non-profit umbrella foundation, with users having a say in how the money is allocated. This unique approach has attracted a significant user base, with the potential market size being much larger than classic donation markets. In the US, comparable services have reached a volume of $250 billion.
bcause offers a versatile wallet that enables users to collect donations, make impact investments, or support projects. The platform aims to create a third wallet category, complementing existing consumption and wealth accumulation wallets, and dedicated solely to the common good. To drive growth, bcause plans to launch an app, build an international network, and form strategic partnerships.
bcause, under the leadership of Felix Oldenburg and with Miriam Wohlfarth serving as an advisor, has demonstrated remarkable growth in its initial years. With its innovative approach to finance and a focus on the common good, bcause is poised to make a significant impact in the Fintech scene and beyond.
