Climate change investment app Clim8 raises £1.35m
A mobile-first platform for sustainable investments focusing on climate change has raised £1.35m in pre-launch crowdfunding.
Clim8was founded by Duncan Grierson, an EY Entrepreneur of Year Cleantech award winner, and is built by ex Credit Suisse, Google, BBC and Amazon execs.
The firm raised the new funds from 1200 investors, including board directors of leading unicorn FinTechs such as Marcus Exall of Monese and Marcus Mosen of N26.
The £1.35m figure means the firm has exceeded its target by more than 300%.
Due to launch this summer, the mobile investment app will provide a way to invest in a portfolio of companies making a positive climate impact.
The FinTech’s portfolio focuses are clean energy, clean technology, sustainable food, electric mobility and recycling.
The firm said it has over 5,000 people on the pre-launch waiting list, and raised a total of almost £2m.
It follows a renewed focus of global institutions on climate change, even during the Covid-19 crisis. The head of the United Nations has recently demanded more focus on climate change, emphasizing that the economic recovery is “a real opportunity to do things right for the future” and that climate change is close to a “point of no return”.
Grierson, Founder and CEO, said: “The mission of Clim8 is to provide an easy to use digital platform so that anyone can invest into companies that are making an impact on climate change.
“We are very excited to have exceeded our funding targets, confirming strongly that investors believe that sustainability investing is a growth sector.”
Andrew J Scott, Founding Partner at 7percent Ventures, which has invested in Clim8, added: "Our fund only invests into startups that have the potential to be billion dollar companies.
“Clim8 have developed a fantastic idea that can have an impact on the global challenge of climate change and build a valuable platform. We are very excited to be a part of the Clim8 journey".