Bunny Money & Sila
Automatically save money while donating to your favorite nonprofits
Like you, we care deeply about making the world a better place. Specifically, we believe that People, Planet & Prosperity go hand in hand. If the pandemic has one silver lining, it’s reminding us how much we truly rely on each other.
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Bunny.money & Sila:
At a Glance
A financial technology company that allows users to save money while donating to favorite nonprofits.
As a child, Fabien saved money in a piggy bank and had already donated some of his own money to charities. But as he got older, Fabien realized that online fundraising could be made better. Unfortunately, it’s common for nonprofits to have to pay between 3% and 11% in processing fees to get access to what is theirs. So, he founded bunny.money, the better way for nonprofits to raise money in that it lets them keep 100% of their donations.
Luckily, Fabien Lamaison, founder and CEO of bunny.money, came up with the brilliant idea to make a fintech app that helped nonprofits with fundraising—incentivizing the donation aspect of it.
Learn about how Sila’s payment infrastructure is powering bunny.money’s smart and socially responsible money-saving nonprofit donation app!
Sila’s powerful technology gives bunny.money users the security and structure it needs for connecting bank accounts and sending donations.
A smart saving app that helps donators save money while giving to Nonprofits.
Sila’s dedication to compliance gave bunny.money a leg up, and they didn’t need to solve all the red tape on their own.
With Sila’s slew of payment features and partner vendors, bunny.money knew they could rely on Sila’s technology for all the features they wanted. #fintechmarketplace
The Goal
An affordable and easy-to-use app for Nonprofits that allows them to keep 100% of their donations and incentivizes donators by helping them save money.
Fabien and his team at bunny.money not only wanted to create an app, but they also had a vision for philanthropy. Fabien wanted to grow the “save for good®” approach; he also wanted bunny.money to operate like a modern piggy bank for giving.
Without Sila
- Becoming a bank agent or finding a reliable banking vendor, which could take forever and end up fruitless.
- Trying to get compliant on their own in all 50 states.
- Building an app on their own, and building or finding the feature they needed with tough integrations.
- Raising a lot of money to be able to get the app off the ground.
- Choosing which features they want to implement first because implementing them is cost-prohibitive or hard to come by.
With Sila
- Using Sila, who has bank agent status, with access to user-named FBO accounts if needed.
- Using Sila’s access to money transmitter licensing through their bank status as a bank agent.
- Knowing that Sila’s powerful technology can get them where they need to go.
- Being able to build the app for free in Sila’s sandbox and beta-test it at an affordable rate.
- Accessing Sila feature list and fintech marketplace right away at a reasonable cost.
A new financial world, built by you.
Sila offers a simple, secure, and scalable banking API to make money programmable with built-in regulatory compliance.
The Results
With Sila’s core payment technology on their side, and access to bank account linking, Know Your Customer (KYC), digital wallets, and smart technology, bunny.money started their nonprofit app for social investing and saving with far less red tape, money, time, and stress.
Bunny.money is kind of like Sila in that they know what they’re good at and they hire experts to help with the rest. bunny.money is a financial technology company, not a bank.
Banking services are provided by Sila as a bank agent. Accounts use the same 256-bit SSL encryption that banks use, never storing your bank account credentials.
Some perks with bunny.money include:
Bunny.money also took advantage of Sila’s financial automation with the smart deposit system, which automatically sets aside money for your savings & donations. How much depends entirely on the user.
And, last but not least, bunny.money is a Certified Benefit Corporation™ (B Corp™), the highest verified standards of social and environmental performance, transparency and accountability. They are also members of 1% For The Planet! We here at Sila are proud to support such a socially conscious endeavor.
Result 1
Bunny.money had an idea to engage members or investors through social fundraising. With an app, they could create a pathway that allowed nonprofits to direct traffic to a donation platform that gave them 100% of the donations.
Result 2
The app needed to have strong financial technology while being user-friendly. When they started up with Sila, bunny.money was able to create this powerful yet easy-to-use platform to reach donors quickly on mobile. Interested donors could also search for users in the nonprofit marketplace.
Result 3
When a user opens a bunny.money account, they can earn up to 1% APY on all money in that account. Instead of processing fees up to 7%, users pay 0% and all the donation money goes to the nonprofit.
Result 4
And with Sila’s core payments technology on their side, they were able to do all this with far less red tape. Sila’s compliance features made it far easier to start up and stay compliant under US regulatory compliance.
A new financial world, built by you.
Sila offers a simple, secure, and scalable banking API to make money programmable with built-in regulatory compliance.