The nonprofit started out as an Australian offshoot of World Education, a global nonprofit helping those who are financially and socially excluded. The two organisations still share similar aims, but have gone down slightly different paths. “In Australia, we were always focused on empowering people financially and it became clear that’s where we could make the most difference,” Walsh explained.
So in 2010, the nonprofit rebranded as Good Return and dedicated itself to microfinance and financial literacy and capability. It also embraced its future as a fintech.
“We wanted to weave technology throughout the organisation, and use it to help people map their own way out of poverty. The flexibility of Salesforce made it ideal, and, as a company, they were very aligned to our values,” said Walsh.
One of Good Return’s first priorities was to build a new microloan site, making it easier to connect individuals who want to lend money to poor entrepreneurs seeking credit. These entrepreneurs are often women with limited opportunities to work, and microfinance supports their ambitions to start and run their own businesses.
Built and launched in two months using Force.com, the new site has made it easier for supporters to fund loans and almost 80% are now choosing to donate or re-invest after loans are paid back.