Shopify app for social impact Virtue has announced closing to its pre-seed round, which was led by SFC Capital. The company has now joined the Techstars accelerator. It has been on Shopify since 2021, when it was launched as a widget. More than 600 online stores of the United Kingdom have used Virtue.
Virtue helps both merchants and customers to donate for social and environmental causes as an additional feature to products sale. Many online stores and brands have supported Virtue’s initiatives against plastic usage and reducing carbon footprints. The London-based company also works for the betterment of the disadvantaged communities.
Brand values are more important than ever to consumers, and studies show that investment in social impact partnerships has a positive ROI. It’s a win, win, win, for causes, retailers, and consumers.
Mariya Kupriyenko, CEO, Virtue
Profit With Good Cause
Virtue claims to have accelerated sales for Shopify merchants over 1.9 million pounds thanks to 35,000 orders. All these orders also contributed to social impact initiatives.
“Brand values are more important than ever to consumers, and studies show that investment in social impact partnerships has a positive ROI. It’s a win, win, win, for causes, retailers, and consumers. We are stoked to be backed by two incredibly reputable and active investors in realising Virtue’s vision,” Mariya Kupriyenko, CEO of Virtue, said in a statement.
Investment For Expansion
With the help of the earliest funding, Virtue aims to expand its business to the global market. The goal is to “eventually branch out to other leading ecommerce platforms,” while curating more causes, creating an ecosystem of partners involved in environmental, social and governance (ESG) and updating the app with shopper engagement features.
“We were delighted to have led Virtue’s latest funding round. With the rapid growth in socially conscious consumers, it is imperative that retailers are able to continue to retain and attract these individuals by doing their bit to solve some of the biggest issues facing the planet and societies,” a SFC Capital spokesperson said.
“Virtue’s easy-to-integrate technology allows them to do this in a simple and effective manner. The team behind the company is extremely passionate and we are excited to see what the future holds for the company,” the spokesperson added.
For more details look at the Virtue Impact website
