Fair by Design Fund

The challenge

In the UK, around 14 million people have to pay extra costs for the same goods and services as people who are financially better off. This is called the poverty premium, the extra cost of being poor. We were introduced to this by the Joseph Rowntree Foundation, who we then worked with to design a programme to eradicate the poverty premium by 2028.

Our approach

We sought out the best partners with track records in addressing poverty, establishing a steering group to determine the best way to tackle the issue. Our work led to the establishment of a fund alongside a campaign programme funded by grantmakers and run by the Barrow Cadbury Trust. The Fair By Design campaign works with regulators, government, business and the social justice sector to change the system and design out the poverty premium.

The fund

The Fair by Design Fund is a venture fund that invests in organisations tackling the poverty premium. The early-stage businesses receiving investment from the fund provide services in sectors such as energy, insurance, borrowing, transport and food. The fund’s investment process includes a focus group of people with lived experience of the poverty premium, run by Toynbee Hall. This group assesses the true customer fit of all ventures considered for investment.