We Just Cut Our Profit in Half (On Purpose)We Just Cut Our Profit in Half (On Purpose)

Sometimes the “best business decision” isn’t the right one.

At Givenwell, we’ve just made a call that, on paper, looks crazy. We’ve dropped our claims fee to 0%. For context, that fee made up almost half of our profit. Gone. Overnight.

Why Would We Do That?

Because our values aren’t just words on a wall - they guide every decision we make. One of our most important values is Don’t Settle. If something feels broken or unfair, we don’t patch it over. We fix it, even if it costs us.

Our Commercial Model

From day one, Givenwell has been completely free for employers.

• No joining fees
• No subscriptions
• No fixed-term contracts

We’ve always believed that if we add real value, people will stick around, and they do.

That approach means 100% of every wellbeing budget goes straight to staff, with no deductions along the way. That’s how we maximise impact.

We make this possible with our marketplace model. Employers fund their teams, staff spend those funds on wellbeing, and we generate revenue through supplier relationships. It’s clean, simple, and aligned. Staff get the full support they’re given, and suppliers get access to new customers.

Claims: The One Thing That Didn’t Fit

Claims allowed members to upload receipts for wellbeing spend outside the marketplace (think personal dentists, local physios, niche specialists, or providers overseas). They offered flexibility and choice, which mattered. But to cover the cost of processing them, we had to add a fee.

On paper, that seemed fair. In practice, it didn’t align with our no-fee approach and the way we want Givenwell to work.

Doing Away with Fees

So we scrapped it. From 1 September, all claims are completely free.

Yes, this means if a team used only claims, we’d make no money. In fact, we’d likely lose money once you factor in service, acquisition, and platform costs. But when we tested this against our values, the decision became obvious.

It also sharpens our focus. We’re doubling down on building out a best-of-breed wellbeing marketplace, curating the very best options so members naturally use marketplace first, with claims there as a backup when needed.

That’s the sweet spot. Claims provide flexibility when you need them, but the marketplace is where we can deliver the greatest value, scale, and long-term impact.

Why We Can Do This

We’ve been careful and selective about who we bring on as investors. The people backing Givenwell are motivated first by mission, vision, and impact. Financial return matters, but it isn’t the be-all and end-all.

That’s written into the fabric of the company. Our shareholders’ agreement even includes a clause that allows Givenwell to allocate a portion of profits to charitable purposes. One day soon, this will power our own foundation, giving away tokens to communities who need them most, funding research, supporting education, and more.

Watch this space.

What This Means for You

To our customers: this change is live now. It makes your budget go further, with every dollar reaching your teams.

To our members: use Givenwell however suits you best. No guilt if that means claims. And if you can choose the marketplace, that support helps us grow, sharpen our offering, and keep making bold calls like this.

We’re human. We’ll make tough decisions. And sometimes those decisions cost us. But when profit says no and our values say yes, we’ll back the values every time.

Ready to make the most of your wellbeing budget?
If you’re already with us, browse the marketplace to explore what’s new. If you’re not on board yet, book a demo to see how Givenwell can work for your team.