Monday, May 16, 2022

Fintech Bloom Launches Australia’s First App for Climate Impact Investments

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Fintech startup Bloom launches the country’s first climate impact investment app.

Co-founder Camille Socquet-Clerc said the Bloom fund will include a mix of green bonds, publicly traded stocks and private projects previously available to wholesalers and sophisticated investors, such as solar farms.

Bloom’s fund includes 75 investments, including major players such as Tesla and BluGlass.

Socquet-Clerc said the app grew out of her personal frustration with the financial industry. With co-founder Bertrand Caron, they wanted to prove that making money and saving the planet are not mutually exclusive.

“I wanted to invest in sustainable and climate positive investments, but the only way to do that was through angel investing or by buying individual stocks,” she said.

“I saw an opportunity to create an avenue for people like me who wanted to invest but didn’t have $50,000 to spare and endless amounts of free time to research which companies would deliver the best returns and real climate impact.”

Clients can invest for as little as $500, with no brokerage fees, while trusts and corporations can do the same for a minimum of $5,000.

More than $5 million has already been pledged by a waiting list of 700 people ahead of the launch.

Socquet-Clerc said this is the first time Australians have had the opportunity to invest in these types of businesses and private infrastructure projects

“We have created a diversified and liquid portfolio to ensure our clean energy projects are blended with larger, publicly traded companies and green bonds,” she said.

“In simple terms, our platform doesn’t put all of our customers’ eggs in one basket, and we don’t lock up their money for long either.”

Bloom also developed a partnership with Palisade Investment Partners to give clients access to solar projects previously available only to institutional investors, such as ESCO Energy Solutions.

Socquet-Clerc said young people were clamoring for a way to invest in companies with a meaningful impact on the planet.

“We only invest in companies and projects that have been scientifically proven to reduce CO2 emissions,” she said.

“We know money talks, so we’re trying to build a powerful movement of people who can use it to fight climate change.”

To achieve their goals, Bloom has recruited veteran former Future Super investment officer Dan East as chief investment officer.

Late last year, Bloom raised $675,000 in pre-seed funding, backed by the founders of Envato and EnergyLab.

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