RenPSG Acquires Pinkaloo
Pinkaloo Acquired by RenPSG:
It’s time to Democratize Philanthropy at Scale
Gideon Taub, CEO
What a difference a few years make. Less than 4 years ago, in my inaugural blog post for Pinkaloo, we were newcomers with a vision and commitment to learn, grow and help do our part to make giving easier and more personal. Our raison d’etre was based on “a fervent belief that with better software tools, donors and charities can drive more change and greater good more quickly.” We committed to immersing ourselves into the market, gaining rich perspective from experts and thought leaders from all facets, and rapidly incorporating new knowledge into prototypes to test, trial and iterate.
Our early customers, advocates and visionaries include many of the brightest minds in banking, corporate giving, and philanthropy – and their insights reinforced our early hypotheses. We gained even more conviction in our beliefs, but never stopped challenging our own assumptions – and the conversations we’ve had with leaders and influencers in this space pushed us to continue developing even better FinTech tools and solutions.
And then, in May 2020, we met with Joe Fisher, CEO of RenPSG – and what started as a discussion on partnership quickly revealed something much more interesting: Our companies shared a similar vision – to make doing good easier than ever before for all participants in giving and philanthropy. With our complimentary products, services and innovations, we can power rich and compelling solutions for our customers, their clients and the world at large. And we can deliver this faster together.
This is why we are joining RenPSG. Because we all recognize the need to transform philanthropy – and our world -- faster. In partnership with our non-profit and for-profit customers, our combined companies will democratize giving at scale.
While not everyone can have the individual social impact power of Carnegie, Gates, or Buffet… everyone collectively can move mountains, and that is precisely what is needed today. The scope and magnitude of our issues are at a massive scale and this requires an equally scalable response. The humans get this, and there is an appetite for change across a broad cross section of our population – here are just a few examples:
The African American community as a whole, donates 6% of their income to cause – triple the 2% average. In fact, two-thirds of black households donate to community foundations each year to the tune of $11 billion.
Today’s generation of motivated, tech-savvy and impatient Millennials and Gen Zers make up more than 50% of our population. They view impact as essential… they see it as an investment in their future. This is the age of the $10 ice bucket challenge that contributed $100M for ALS. The generation that raised $18M in 6 weeks for a presidential candidate – average donation of just $18.53.
And speaking of Millennials – 3 out of 4 contributed during the pandemic, and over half have said they would give more often if it was easier. In fact, 83 percent of Millennials claim to be more loyal to companies that help them contribute to social and environmental issues.
Overall, 1 in 3 Americans believe that the purpose of the money they make is to give back… yet 1 in 8 Americans say affordability is their top obstacle to giving because they “can’t give enough to make a difference.” It’s time for us to change that perception.
So why RenPSG? Because they are the committed experts to making sure that the funds flow with scale and efficiency. They make sure that the dollars grow and flow to the worthy and vetted charities and philanthropies. They innovate with responsibility and conviction. And this is going to help all of us scale to meet the pressing needs faster and more efficiently. But most of all, what excites me is this: Even after three decades, they are asking the right questions and having the conversations. We may have a vision, but we will never lose our beginner spirit – we have a great opportunity to build and innovate, and we are eager to get your perspective. Let’s start a conversation and see what we can accomplish the next four years – please join us.