Proof of Impact, a digital platform which enables consumers to donate and invest in positive causes, has received its first institutional investment.
The amount of capital raised by the startup was disclosed.
Franklin Templeton led the investment, with additional commitments coming from Ausum Ventures, Crypto Valley Venture Capital and Pangea Blockchain fund.
Having closed this initial investment injection, Proof of Impact will enhance its products and continue its growth projections.
The Amsterdam-based FinTech is a global marketplace built on the blockchain where a user can donate or invest directly into measurable impact outcomes.
Founded in 2017, Proof of Impact enables a user impact implementer (NGOs, companies, impact initiatives etc) to offer verifiable impact events at an individual level.
Franklin Templeton executive vice president Roger Bayston said, “As a firm, Franklin Templeton has committed significant capital to blockchain technology as we believe it offers a very effective future infrastructure for fund management. Furthermore, our client base is increasingly demanding impact returns in addition to the financial returns conventional portfolios offer.
“It therefore made sense to invest in Proof of Impact for its ability to generate impact content in digital form. Proof of Impact has created an entirely new paradigm for social impact investment and management.”
In conjunction with the investment, a representative of Franklin Templeton will serve on the Proof of Identity board.
Earlier in the week, the EBA released its action plan on sustainable finance and meeting the mandates related to environmental, social and governance (ESG) factors.
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