London’s Clim8 picks up £2.85M for its sustainable investment app
London-based sustainable investment app Clim8 Invest is meant for those looking for a simple way to invest in the future of both themselves and the planet. Recently, this investment platform eyeing to bring a positive impact on climate change has closed its latest crowdfunding campaign on Crowdcube, hitting £2.85 million from over 1,800 investors.
This round takes the total investment raised by the company to £10 million funding including the previous rounds it secured from Channel 4 Ventures (the venture arm of the TV channel), 7percent Ventures and two previous crowdfunding campaigns. The third round came along with the public release of the Clim8 Invest app in the app stores to allow its community of customers to also join the company’s growth journey.
Plans to grow its team
Clim8 will use the investment to execute its ambitious growth strategy as it is focused on growing its user base and driving product innovation. This includes the ongoing rollout of its app and the forthcoming launch of its new Junior ISA and Self Invested Personal Pension in the UK. Notably, the company plans to expand its team over the course of 2021. It has quadrupled its team size, including senior hires from Monese and Expedia.
Duncan Grierson, Founder and CEO of Clim8 Invest, said: “Our customers have been asking for an opportunity to become involved in Clim8 not just as users, but also as shareholders. So we launched this campaign to give them a chance to join us as we embark on the next stage of our exciting journey to expand our offering. We’ve been amazed by the level of interest we’ve seen over the past few weeks, and I’m excited to welcome our new investors on board.”
Jonathan Keeling, VP Commercial at Crowdcube, added: “Crowdfunding is a barometer of investor sentiment, and it is always interesting to see which high-growth businesses resonate with our community. Clim8’s vision for a more sustainable future through tangible climate impact has inspired thousands of new investors from over 50 countries to join their journey. The campaign has been a huge success, and we look forward to following their growth trajectory.”
Exceeds its target
Clim8 raised over £1.26 million in the first 24 hours, smashing its £750,000 target on the first day of the crowdfund with significant demand from existing investors and app users. This crowdfunding round caps a transformative 12 months for Clim8.