With a deft touch of fintech and philanthropy, Dominic Kalms has created companies that promote social impact and are financially sustainable. The work he does showcases a distinct equilibrium, illustrating how the combination of technology and finance can not only coexist with philanthropic efforts but also improve their effectiveness.
Kalms’ path commenced with a profound dedication to societal welfare, influenced by personally witnessing abject poverty in his formative years living in Asia, and then later moving to London, England and seeing the opulent affluence of a major European city. The stark contrast between these two opposite realities fueled his determination to discover remedies for worldwide inequity. Realizing that the conventional frameworks of government and non-profit organizations were not enough to address the increasing needs of society, Kalms aimed to combine the effectiveness and creativity of the commercial sector with the purpose-driven dedication of philanthropy. As a result, he ventured into the fintech industry, where he has emerged as a trailblazer in incorporating technological innovations into the nonprofit and philanthropic sectors.
Kalms initially gained recognition through GVNG, a technological platform supported by venture capital that aims to streamline the process of creating instant charitable giving accounts. Forbes characterized GVNG as “one of the most groundbreaking platforms in the realm of social impact at present.” The platform facilitates the swift and effortless initiation and administration of charitable endeavors for prominent philanthropists, corporations, and ordinary everyday change makers. The value of GVNG is its ability to simplify the process of establishing charitable foundations and giving accounts, which traditionally have entailed complex administrative and legal obstacles and prohibitive costs.
Kalms’ approach to GVNG demonstrated his comprehension of the necessity for efficacy in philanthropy. By using fintech innovations, he made it possible for donors to engage in significant donations with little difficulty or cost. GVNG made it simple for users to actively support social causes, removing barriers that often deterred people from engaging in charitable activities. Under Kalms’ guidance, GVNG facilitated the enhancement of charitable endeavors for prominent philanthropists and corporations worldwide, demonstrating the potential of fintech to expedite social impact.
Building on his success with GVNG, Kalms founded B Generous, a fintech startup that took his philanthropic vision to new heights. The business launched the first “Donate Now, Pay Later” (DNPL) product in history. This creative financial option aims to boost charitable giving by enabling contributors to make one-time payments that may be gradually repaid. Similar to the widely used Buy Now, Pay Later (BNPL) model in retail, DNPL gives donors the freedom to make large contributions without worrying about their immediate financial situation while also giving organizations access to cash when they need it most.
B Generous also launched a direct lending product for nonprofits called Accelerate. The Accelerate product has rapidly become one of the largest nonprofit lending programs in the world, and in its first year since launching this product, B Generous received over 10,000 loan requests from nonprofits requesting to borrow about $750 Million in total. While not all of these requests are lendable, the Accelerate product has already lent millions of dollars and expects to lend several hundred million dollars to nonprofits in the coming years.
Kalms’ establishment of B Generous demonstrates his capacity to leverage fintech’s potential to address persistent liquidity issues within the nonprofit industry. Nonprofits frequently experience cash flow problems because they depend on erratic donor trends to fund their operations. B Generous addresses this issue with their Donate Now, Pay Later product which gives contributors the option to spread their contributions over multiple months without incurring interest or other costs while the nonprofit gets the full donation upfront. B Generous also gives NGOs quick access capital with their Accelerate product which is the first and only national Fintech lending product tailored specifically for nonprofits.
What sets Kalms apart is his ability to maintain a dual focus on financial innovation and social impact. He does not view fintech and philanthropy as separate entities but as complementary forces. His ventures exemplify how technology can enhance charitable giving, making it more accessible, efficient, and impactful. Kalms’ understanding of both sectors enables him to navigate the complexities of each while keeping the broader mission of societal improvement at the forefront.
Kalms has also taken steps to ensure that his fintech solutions are responsible and ethical. For example, B Generous does not charge donors interest or fees, and the company caps credit limits to prevent overextension, avoiding some of the criticisms leveled at traditional BNPL services. This responsible approach reflects Kalms’ commitment to aligning fintech practices with the values of philanthropy.
Additionally, with the Accelerate product, about 70% of nonprofit borrowers in the B Generous portfolio are led by women and 33% have a majority of female employees and/or support gender related causes. This highlights B Generous’ commitment to empowering female leadership and improving economic opportunities for women. Furthermore, about 22% of non-profit borrowers in the B Generous portfolio are less than three years old, showcasing B Generous’ commitment to supporting emerging nonprofits, and about 37% of non-profit borrowers in the B Generous portfolio are financially weak (loss making in at least one of the last 3 years), highlighting B Generous’ commitment to aiding organizations in financial distress.
Dominic Kalms’ work through GVNG and B Generous underscores his vision of using fintech to drive systemic change in the philanthropic world. He has demonstrated that by applying entrepreneurial principles to social impact, it is possible to create scalable solutions that address both immediate and long-term needs. His ability to balance innovation with empathy has positioned him as a leader in both fintech and philanthropy, and his work continues to inspire others to think creatively about how financial tools can be harnessed for the greater good.
In a world where financial technology and social responsibility are often viewed in isolation, Kalms offers a powerful example of how the two can intersect to create a lasting impact. Through GVNG and B Generous, he has proven that fintech can be a force for good, driving both social progress and financial empowerment in equal measure.
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