Climate-focused fintech Bloom Impact Investing has raised $675,000 in a pre-seed round ahead of the launch of its impact investing app.
The round was led by climate tech startup accelerator and innovation network, EnergyLab with Envato co-founders Cyan and Collis Ta’eed also among the angel investors with ACAC Innovation, Palm Beach Ventures, and NOAB Ventures.
Founded in 2019 by Camille Socquet-Clerc and Bertrand Caron, Bloom Impact Investing’s core product is an app that makes it easier for retail investors to make impact investments. They can invest in a diversified portfolio (or mutual fund) of clean energy infrastructure (such as solar farms) and cleantech companies to generate a return for as little as $500.
Socquet-Clerc, Bloom’s CEO, said the pre-seed funds will allow them to develop their retail investment app, set up its climate impact fund, and double its local team size.
“With Bloom, we can deploy much-needed capital into climate solutions but also allow thousands of individuals to participate and benefit from the clean energy transition” she said.
“Australians can finally scale their personal impact and grow their wealth, by simply shifting their savings away from fossil fuels and towards climate impact,
The investment app is currently in the beta testing stage on Android and Apple stores and will be launched in Australia later this year.
“We are delighted by the calibre and value-alignment of our investors for this pre-seed raise,” Socquet-Clerc said.
“Combining our personal connections with EnergyLab’s angel network has allowed us to attract experienced investors who had genuine expertise and interest in climate impact. Bloom is now supported by the perfect mix of investors with deep knowledge in financial services, consumer businesses, and climate impact.”
She said impact investing is a $19.9 billion opportunity in Australia and one of the most scalable ways to address climate change.
Bloom is one of six companies in EnergyLab’s Climate Solutions Program ahead of the accelerator investing in the startup.
EnergyLab Chair Piers Grove said Bloom was a “wonderful” company that has grown out of sector experience, climate passion, and perfect timing.
“Australians are crying out to invest their money in line with their values and Bloom is creating an accessible, responsive platform to allow consumers to do exactly that,” he said.
The app currently has more than $3.5 million pledged on its waitlist.
Envato co-founders excited by social impact
Cyan and Collis Ta’eed, the Envato co-founders who last year stepped away from their operational side of their venture to focus on their philanthropic and impact investment work, also backed Bloom.
“We are really excited about Bloom’s potential to empower many more passionate investors around Australia to both fund and benefit from Australia’s building momentum around climate impact,” Cyan Ta’eed said.
“When we invest, we’re always on the lookout for founders whose motivations are authentically purpose-led, and it was clear from the first time we spoke with Camille that her commitment to Bloom’s social impact runs deep.”
“As a founder, I find that the best advice and support comes from people who have been themselves on challenging and successful entrepreneurial journeys,” she said.
“I am very proud that our business is now supported exclusively by investors with a genuine impact mindset and stellar business track record.”
NOAB Ventures director John Wood said: “What I love about Bloom is the ability for individuals to come together as a community, and pool their investments to supercharge their impact. It’s a great solution for people’s wallets and the planet: investors get direct feedback on their return for their personal investment and the carbon they remove from the atmosphere.”
The Bloom impact investing platform will feature a managed climate impact fund, access to a community of impact investors, and sustainable finance education.
Read more about Bloom here and the app waitlist can be joined here.
Daily startup news and insights, delivered to your inbox.