New Delhi, July 7th, 2021: DanaMojo, India’s first exclusive payments solution platform for NGOs has just announced that it has raised INR 3.05 crores in its first round of funding. One of the largest amounts to be raised by similar entities in India, the key investors are renowned philanthropist Rohini Nilekani & Social Alpha. DanaMojo is one of the first organizations in its space to receive funding from an institutional investor Social Alpha in its first round of funding. Other investors include Pravin Gandhi, General Partner of Seedfund Venture Fund and Vasanthi Anand.
Founded by Dhaval Udani in 2016, DanaMojo was launched with a mission to simplify online payments for NGOs and reduce their overall time, energy and cost involved in managing their donations and allowing NGOs to focus on increasing their donations. Since its inception, DanaMojo has on-boarded 900+ NGOs. It is one of the first organizations which provides a SaaS platform specifically for NGOs.
Dhaval Udani, Founder & CEO, DanaMojo said, “This investment is extremely encouraging for social entrepreneurs in India. With my experience in the NGO space, I understand the need for specialized services for non-profit organizations and we hope to strengthen our offering to assist them in the best way possible.”
Manoj, Founder and CEO, Social Alpha, says “The increase in online giving shows there is a growing preference to donate via digital channels. Through its integrated payment solutions, Danamojo will empower donors to play a critical role in helping the vulnerable communities that have suffered the most during the lockdown. Technology can improve philanthropy by making a noble gesture effective, collaborative, transparent, and democratic. The role of NGOs in strengthening the socio-economic development process by engaging at the grassroots level is crucial to nation-building. The seamless experience provided by Danamojo’s disruptive solution has the potential to encourage more philanthropists to come forward and create a larger pan-India impact.”
With the investment in DanaMojo being in line with her belief in the power of everyday giving, philanthropist Rohini Nilekani said, “India needs many intermediary organisations, in both the non-profit and for-profit spaces, beyond donors and their receiving partners, to truly influence the aggregated impact at scale. There are many capacities that fall between the capabilities of donor and partner organisations that more specialised entities can build. DanaMojo is one such entity – a platform for simplified individual giving – that fills the need of the hour”.
About Social Alpha
Social Alpha is a multistage innovation curation and venture development platform for science and technology start-ups that address the most critical social, economic and environmental challenges through the power of entrepreneurship and market-creating innovations. Since its inception in 2016, Social Alpha has supported more 150 start-ups including 40+ seed investments. For more information, please visit www.socialalpha.org
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About DanaMojo
DanaMojo is India’s First Integrated Payment Solutions Platform for NGOs that offers a holistic solution, reducing the overall cost, time and effort for NGOs while supporting their objective of increasing donations. Since its launch in 2016, DanaMojo has on boarded 900+ NGOs on its platform.