INCOMEMAX has been announced as one of only six finalists in Nesta’s Rapid Recovery Challenge, which aims to improve access to jobs and money for those hardest hit in the wake of the COVID-19 pandemic by financing digital solutions.
The East London based social enterprise, which helps families access unclaimed benefits to reduce debt and household bills, will be given an additional £150,000 to scale their new IncomeMax Digital platform to reach 10,000 vulnerable customers by 19th August. The new platform reunites low-income workers, insecure workers and young workers with sources of income through unclaimed benefits, grants and other financial support such as help for utility bills. The IncomeMax Messenger tool will help vulnerable customers who prefer to talk digitally access expert advice privately.
In December 2020, IncomeMax was announced as one of the Challenge’s fourteen semi-finalists who all received an initial £125,000 to develop their solutions to support the most vulnerable access employment and manage their finances. The two Challenge winners will be decided in September 2021.
Commenting on the announcement, Lee Healey, Founder and CEO of IncomeMax, said:
“IncomeMax is thrilled to be chosen as a Rapid Recovery Challenge finalist and to continue to be part of a movement that is advocating for a new economy, one which helps humans and the planet to thrive. Throughout the COVID-19 crisis, we’ve seen just how important incomes are, and this funding will allow us to create a new impactful, digital channel to help even more vulnerable people maximise their income.”
IncomeMax, which has already helped over 100,000 families find more than £30.5million of new income, will continue to play a vital role in the recovery by reuniting families with the £15+ billion of income which Department for Work and Pensions data shows is currently going unclaimed by UK families each year. This figure is expected to rise as more hard-working families face unforeseen hardship due to the pandemic.
For more information about IncomeMax, please visit: https://www.incomemax.org.uk/.