ALEXANDRIA, Virginia, May 16, 2017 /PRNewswire/ --
Team led by current CEO acquires only fully-integrated platform in the online giving space
Razoo Global Corporation ("Razoo"), a leading online fundraising platform with a pioneering legacy in charitable giving, today announced that its management has successfully concluded a buyout of the business from global investment firm and founder of Razoo, the Legatum Group ("Legatum").
Since the company's founding in 2006, Razoo has offered an online service for charities and has grown into the only fully-integrated cloud-services platform that empowers individuals, non-profit organisations, giving event hosts, and teams of people working together to fundraise for the causes they care most about.
"This is a very exciting time for Razoo. Online giving is thriving and, following major upgrades to our product, we're here to empower philanthropic hearts and minds," said Tom Matthews, CEO of Razoo. "We're greatly encouraged by recent product adoption and by all of the amazing feedback we've received from our users. We are committed to growing our community and building the very best online giving platform and experience for non-profits and the next generation of givers."
Razoo has been a leader in the non-profit crowdfunding sector for more than ten years, enabling over US$550 Million in donations for causes globally.
Mark Stoleson, CEO of Legatum, said, "When we founded Razoo, our vision was to inspire a generation of donors to give directly to the people and causes they care about. We are delighted to see how the sector and personal giving has flourished over the past decade with Razoo mobilising over US$550 million in donations."
Stoleson added: "Tom and the team have created what we believe is the best product in the crowdfunding space today. Under his leadership, the company is well poised for growth and is configured to win in an increasingly competitive landscape. Razoo has a bright future in a sector that is delivering value to millions of givers around the world and we look forward to continuing to partner with its leadership and other shareholders to see the company fulfil its potential."
Legatum will remain a significant but minority shareholder in the company and Razoo will continue to operate from its Alexandria, VA headquarters. No further terms of the transaction were disclosed.
Since launching in 2006 Razoo has helped over 150,000 causes raise more than US$550 Million. Today Razoo is recognised for innovating across the spectrum of online fundraising products with its modern cloud services and integrated platform that supports comprehensive fundraising for non-profits, personal causes, giving events and team fundraising. Razoo is located in Alexandria, Virginia.
Legatum is a private investment partnership with a 30-year heritage of long term value creation through investments in global capital markets.
Legatum invests proprietary capital in listed businesses with a focus on identifying hidden or unrealised value in investment themes that are often played out over years.
Legatum's Mission is to generate and allocate the capital and ideas that help people live more prosperous lives and this has led to investments in social development initiatives which have impacted over 270 million people since 1999.
SOURCE Legatum Group and Razoo