Clim8 raises $8M from 7pc Ventures, launches climate-focused investing app for retail investors

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Clim8

Clim8 raises $8M from 7pc Ventures, launches climate-focused investing app for retail investors

Ethical investing remains something of a confusing maze, with a great deal of “greenwashing” going on. A new U.K. startup is hoping to fix that with the launch of its new app and platform for retail investors.

Clim8 Invest has raised $8 million from 7pc Ventures (early backers of Oculus, acquired by Facebook),  British Business Bank Future Fund and a number of 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).

Consumers will be able to invest in companies and supply chains that are focused on tackling climate change. It will be competing with similar startups in the space such as London-based Tickr (backed by $3 million from Ada Ventures), Helios in Paris and Yova in Zurich.

CEO of Clim8 commented the raise of actives

Duncan Grierson, CEO of Clim8, said in a statement: “We are launching at an exciting time for sustainable investing. 2020 was an exceptional year for environmentally-focused investment offerings, as investors looked harder at climate-related opportunities. Sustainable investments have continued to outperform markets since the beginning of the Covid-19 Crisis and we believe this will continue.”

Grierson has 20 years of experience in the green space and was a winner of the EY Entrepreneur of Year Cleantech award.

The startup will take advantage of new, higher EU rules around the disclosure requirements for sustainable investment funds. Users can choose between either stocks and shares ISAs (up to £20,000) or a taxable general investment account.

What’s behind this year’s boom in climate tech SPACs?

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