As investors look beyond the pandemic, Clim8 Invest – the app that offers everyone the opportunity to have a positive impact on climate change through sustainable investment – has reached £1.35 million in pre-launch crowdfunding from 1200 investors.
This exceeds its crowdfunding target by more than 300% and makes it one of 2020’s most successful raises on the Crowdcube platform.
Clim8’s platform, due to launch this summer, is the world’s first mobile investment app focused only on truly green businesses.
It will provide a simple way to invest into a targeted portfolio of companies that are making a positive impact on climate change.
The company has now raised almost £2 million in funding, before launch of the app. 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, emphasising 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” .
An investment by venture capitalist fund 7percent Ventures has boosted Clim8’s funding round. 7percent Ventures is an early-stage venture fund whose previous investments include virtual reality company Oculus acquired by Facebook for $2 billion. Investors also include board directors of leading unicorn fintechs such as Marcus Exall (Monese) and Marcus Mosen (N26).
Duncan Grierson, Founder & Chief Executive, commented: “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 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”.
Luke Lang, Co-founder and CMO of Crowdcube, said, “Clim8’s mission to make investing into clean energy and sustainable companies easier has already inspired over 1,000 investors, making it one of the most popular raises on Crowdcube this year.
“People want to back businesses they believe in and particularly ones aiming to have a positive impact on climate change.”