Level39 Alumni, Revolut, partners with foodbank charity The Trussell Trust
16th April 2020
Source: https://www.altfi.com/article/6353_revolut-partners-with-foodbank-charity-the-trussell-trust
Digital banking giant Revolut has announced a partnership with The Trussell Trust foodbank to help support food banks across the country.
The Trussell Trust is the UK’s largest network of foodbanks and currently operates 1,200 food banks. Revolut says its users will be able to either roundup their transactions, make a one-off or recurring donations.
As the coronavirus pandemic worsens, food banks have seen a sharp increase in those needing them as an economic downturn looms and income losses put further strain on UK households. According to The Trussell Trust, between April 2018 and March 2019, its foodbanks provided a record 1.6 million food supplies to people in crisis, a 19% increase on the previous year, and the trust predicts this figure is set to rise even further.
Nikolay Storonsky, CEO and founder of Revolut, said: “During these turbulent times, it is deeply encouraging to see this massive wave of solidarity and we’re confident that our community of generous customers will appreciate the opportunity to donate and support those affected by COVID-19.”
Sophie Carre, Head of Corporate Partnerships at the Trussell Trust, said: “As the coronavirus pandemic develops, more people than ever need help from our food banks.”
“This situation presents a huge additional pressure on their already overstretched resources. We have started to see a reduction in food donations, coupled with a very real shortage of volunteers and on-the-ground support.”
The Trussell Trust anticipates that a minimum of 400,000 emergency parcels will be provided to food banks over the next three months.