For Funding, Banca Intesa’s Donation Crowdfunding Platform, Raised €31M

For Funding, Intesa Sanpaolo’s donation crowdfunding platform has helped raise €31 million in recent years for more than 300 projects dedicated to young people, families, the elderly, community venues, suburban and sports field redevelopment projects as part of urban regeneration, and programs to prevent school dropout.

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For Funding’s donations crowdfunding

In addition, with the Formula program, Intesa Sanpaolo directly contributes to the crowdfunding of projects with a strong territorial connotation as they are directly selected by the bank’s regional directorates in the territory and supervised by the Cesvi Foundation.

“A satisfaction that exceeded any expectation came to us from For Funding, our crowdfunding platform where we host the projects of hundreds of influential nonprofit enterprises, and where our clients and anyone who wants to can donate to support them,” explained Andrea Lecce, head of the Intesa Sanpaolo Impact department.

“On the platform we host rigorously selected nonprofit organizations and allocate every euro donated to initiatives, taking on the extra costs. In 2020 we became the first Italian fundraising platform and since then we have continued to grow, both with projects to support local communities in our country and by intervening in major emergencies such as the pandemic and the humanitarian emergency in Ukraine. All this allows us to play an active role in reducing inequality and upholding the values of the common good, and thus give the most fragile a chance.”

The platform was created by FolkFunding, which still supports the project, as founder Angelo Rindone said: “An experience that we have been following since its inception and of which, as FolkFunding staff, we are particularly proud. It was not an easy bet given that other Italian corporate platforms have never managed to build a solid project with such an important track record.”

But Banca Intesa’s commitment to the third sector is much broader. In its Business Plan 2022-2025, the institution created the Impact Department, a structure headed since April 2022 by Andrea Lecce who inherited the reality of Banca Prossima, absorbed into Intesa Sanpaolo in 2019 and a banking institution entirely dedicated to the Third Sector.

The Fund for Impact

Thanks to the new social credit promoted by the Impact Department, Fund for Impact, credit inclusion initiatives characterized by low rates, long repayment periods, and no collateral required are supported, so they are capable of generating a concrete and measurable social impact.

The Fund makes it possible to provide credit with leverage of up to €1.5 billion. The primary beneficiaries of impact credit are college students (with the Merit line), working mothers (mom@work), families struggling with distance learning or otherwise engaged in their children’s study and growth paths (Crescere), unemployed people nearing retirement (Objective Retirement), caregivers caring for dependent family members (Cura) and civil service volunteers (Esempio).

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(Featured image by marcellomigliosi1956 via Pixabay)

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