Clim8 Invest is a UK-based investment platform meant to help consumers invest in companies focused on tackling climate change. The company announced the launch of its mobile app as sustainable funds outperformed the market in 2020. Also, the company raised $8 million (nearly £5.8 million) in funding.
To invest in sustainable startups
The investment round was led by 7pc Ventures (early backers of Oculus, acquired by Facebook), British Business Bank Future Fund and technology entrepreneurs and executives including Marcus Exall (Monese), Marcus Mosen (N26), Paul Willmott (Lego Digital, McKinsey), Doug Scott (Redbrain), Matt Wilkins (Thought Machine), Andrew Cocker (Skyscanner), Steve Thomson (Redbrain), Monica Kalia (Neyber, Goldman Sachs), Doug Monro (Adzuna), and Erik Nygard (Limejump).
The investment comes after the company raised £2.4 million funding late last year. It will let consumers invest in companies and supply chains with a focus to tackle climate change.
App for sustainable investing
Clim8 Invest app empowers people to make a positive and real impact on climate change with the potential to enjoy a return on their investment. Its core themes include cleantech, clean energy, smart mobility, circular economy, clean water and sustainable food. This app has been launched when sustainable fund inflows more than doubled in 2020, reaching $348 billion compared to $166 billion in 2019.
“We are launching at an exciting time for sustainable investing. 2020 was an exceptional year for environmentally-focused investment offerings such as ours, as investors looked harder at climate-related opportunities,” said Duncan Grierson, CEO of Clim8. “Sustainable investments have continued to outperform markets since the beginning of the Covid-19 Crisis and we believe this will continue.”
“Not only is sustainable investment becoming mainstream, we believe it has the basis for sustained out-performance in the medium-term, irrespective of views on the environmental crisis,” said Vincent Gilles, Chief Investment Officer, Clim8 Invest. “We believe this outperformance can be explained by two main factors. The demise of the oil and gas sector² in which sustainable funds are typically not invested in and the defensive qualities of the more sustainable companies in a period of market turmoil.”
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