Ethic, a sustainability-focused personalisation-powered asset management platform, has closed its Series C round on $50m.
San Francisco-based investment management firm Jordan Park Group led the Series C.
UBS also joined the round through its venture and innovation unit, UBS Next. Other backers include Oak HC/FT, Nyca Partners, Sound Ventures, Urban Innovation Fund and Kapor Capital.
Ethic will use the capital to expand into new markets and launch new products. It will also invest into its platform experience.
The FinTech company saw record inflows in H1 2022, it claimed.
Ethic offers a customised alternative to one-size-fits-all fund structures. Its mission is to foster the move towards a world where all investing is sustainable investing.
Its platform helps financial intermediaries meet demand for personalised investment solutions. It offers customer equity portfolios that can tailor to end clients’ individual sustainability, financial, charitable giving and tax management preferences.
Financial intermediaries can also forge deeper relations with clients through transparent impact reporting and sustainability educational tools.
Ethic co-founder and CEO Doug Scott said, “Our personalised approach, which allows people to create portfolios that reflect their own unique definitions of sustainability, has helped facilitate our rapid growth with intermediaries and their clients.
“With this latest round of funding, closed this summer, we’re excited to continue delivering innovative solutions that bring us closer to our vision of a world in which all investing is sustainable investing.”
The company previously raised $29m in its Series B round in March 2021. Since then, it has surpassed $2bn in assets and increased its team by 70%.
In other sustainability investing news, Temenos released ESG investing-as-a-service for banks.
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