Clim8 smashes crowdfund target on day internet broke
Posted on June 9, 2021 by Jonathan Symcox
A mobile-first platform for sustainable investments focusing on climate change smashed its crowdfunding target on its first day.
As the world suffered large-scale internet outages owing to a configuration error at content delivery network provider Fastly, Clim8 raised £1.26 million by the end of Tuesday – 168% of its target.
Clim8 was founded by Duncan Grierson, an EY Entrepreneur of Year Cleantech award winner, and is built by ex-Credit Suisse, Google, BBC and Amazon execs.
This is Clim8’s third crowdfunding campaign via Crowdcube, with the previous rounds overachieving the target by 300% and 500%. Clim8 has raised £5 million to date from over 3,000 investors and larger institutional funds.
It has already secured £2m from Channel 4 Ventures as part of this funding round, while the latest raise also includes a follow-on investment from 7percent Ventures.
The new investment will be used to deliver product innovation and expansion. Clim8’s 2021 roadmap includes the rollout of its new JISA, SIPP (self-invested personal pension) and marketing.
This year Clim8 launched its app to consumers in the UK with thousands of investors already investing between £25 and £97,000. It has also tripled its workforce from 10 to 30 people.
“Last year was massive for sustainable investing. I believe 2021 will be even bigger, as demand continues to grow from consumers to align their savings with their values, as well as their desire to make a personal positive impact on climate change,” said Grierson.
“Our app brings both of these together by enabling consumers to save money whilst securing a better future for the planet. We are inviting our community to make this happen by joining us on our upcoming crowdfunding campaign to invest in our people and the business.”
The Crowdcube campaign is open to investors here.