Climate-focused fintech startup Bloom Impact Investing (based in Brisbane, Queensland) has raised $525,000 in seed funding, led by Up co-founder Dominic Pym and Envato founders Collis and Cyan Ta’eed.
Their app aims to prove that you can be an investor and help save the planet simultaneously. Part of the Bloom strategy is enabling previously unlisted green investment opportunities, such as solar and wind farms, accessible in the app.
The mobile investment app was launched by Camille Socquet-Clerc and Bertrand Caron in 2019. It’s now on a trajectory that enables creating people who want to invest, but don’t have $50,000 to spare or endless amounts of free time to research which companies would deliver the best returns and genuine climate impact.
Their timing is impeccable given the Responsible Investment Association of Australasia estimates that impact investing will increase to $100 billion in Australia over the next five years.
Bloom is actively seeking to avoid green washing. Their portfolio includes companies that go beyond investing in a couple of solar and wind stocks and supporting solutions with deep decarbonisation potential across all industries such as geothermal energy, wetland protection, metal recycling, or low-carbon cement.
The fintech currently manages $1.6 million in funds. The new seed funding will help scale the business and accelerate business development to help grow the Bloom community.
The app is available on both the App Store and Google Play.