Pledjar becomes the first fundraising round-up platform, using open banking technology, to be given direct FCA accreditation.
Pledjar is a free-to-use mobile app that is making micro-giving go viral by allowing users to digitally donate rounded-up pennies from purchases and subscriptions. They have now received a landmark accreditation making them a leader in the rapidly growing round-up industry.
The fintech platform, which launched earlier this year, is already ahead of the competition as they have exclusive access to fundraise for some of the biggest charities in the UK, including Unicef, Cancer Research UK and Save the Children.
To further strengthen their already impressive position, Pledjar went through a vigorous process of due diligence with the supervisory body of financial services in the UK – the Financial Conduct Authority (FCA). The FCA validated their business model and money handling processes before awarding them the special recognition of being the ‘first charity fundraising app using Open banking technology’ to become directly authorised by the FCA.
Mujtaba Jaffer, CEO, said: “The public are giving more and more online, especially following the Covid pandemic, and many of these online platforms are unregulated and collecting huge amounts of money. We’re really proud that Pledjar can give users the added assurance that the money they donate through the platform has met the strictest and highest standards demanded by the globally recognised FCA.”
The granting of full authorisation by the FCA demonstrates to current and future investors that Pledjar has a robust business model with the right safeguards and processes in place to become the number one app for round-up giving.
To add to the list of accolades, Pledjar was placed the highest round-up fintech disrupter in the 2020 Business Cloud’s 100 FinTech Disrupters – being ranked 14th alongside other big fintech names like Revolut and Monzo.
Pledjar allows charities to sign-up for free and take advantage of the platform without having to invest in developing their own digital solutions. As charities look for new ways of fundraising, following the decline of donation streams since Covid-19, the accredited Pledjar digital solution comes at a great time – whilst also giving charities confidence through the FCA accreditation.
Pledjar is now looking to use their new status and scale further by offering support to School PTAs and corporate foundations. The Pledjar app is available to download now from the Apple and Android app stores and more information can be found online at www.pledjar.com.