Novel Ventures, a Dallas-based startup studio, announced today the launch of its newest portfolio company, Myte, a one-stop donation platform connecting donors with the real needs of nonprofits to make giving as frictionless as possible, according to a news release.
Myte was launched as a mobile app and seeks to bridge the gap between the nonprofits in need of financial support and donors.
Novel Ventures is a startup launched in late 2021 by venture capitalist Matthew Rial. The company says it brings together capital, shared resources, and expertise to increase the chance and speed of startup success.
Novel Ventures also recently launched Neighborly, a mobile craft coffee concept, and plans to build two to three new ventures every year.
"We want Novel to be a leader in redefining traditional venture success and shift the market's focus to real, lasting impact over hype and inflated value," Rial, managing partner at Novel Ventures, said in the release. "Myte is the perfect way to introduce Novel to the world. The mission to radically transform the way people give perfectly depicts the ambitious, purpose-driven journey we are embarking on."
Myte's technology centralizes access to over a million charities worldwide, according to the release. It populates their needs directly into the application, allowing users to discover and donate to their favorite organizations all in one place.
"With the antiquated steps of traditional giving, most donors never see the impact of their donation and fail to stay connected to the causes they are passionate about," Blake Harvey, founder of Myte, said in the release. "Our goal with Myte is to modernize the giving process with features that bring donors into the frontlines of generosity while making giving as simple as possible."
According to the release, nonprofits can claim their Myte profile and share specific needs, campaigns, and updates with their donors worldwide. Users can explore trending nonprofit news and even encourage friends to give alongside one another on a social feed.
"We use apps like Robinhood, Venmo, and Mint to handle our personal finances, but nothing similar exists to manage charitable donations easily," Brendon Marks, board member of Myte and partner at Trilogy Investment Group, said in the release. "I see Myte not only being the ultimate solution for every donor's giving needs, but also an exciting catalyst for good in our world."
According to the release, Myte is currently allowing interested users to join the early access waitlist and encouraging nonprofits to claim their profiles so they can customize their accounts and add donation requests before the platform goes live this summer.
