Net Purpose has raised £10m for its Series A round, as it continues its mission to make impact investing available to everyone.
ETF Partners served as the lead investor. M-Tech Capital and Exceptional Ventures also joined the round.
Several existing investors also joined the round. These include former Goldman Sachs Asset Management chair Jim O’Neill, IHS Markit co-founder Kevin Gould, the Louis Family, Illuminate Financial and Revent.
The company’s mission is to make impact investment effortless for all investors by 2025. It stated that every investor in the world needs access to sustainability data by 2025 so they can put their capital in the most innovative and impactful businesses.
Net Purpose aims to pioneer this access to data. It initially focused on the most sophisticated impact and sustainable investors. These clients have enormous amounts of capital and are measuring their social and environmental performance while maintaining financial return.
Its platform provides quantitative facts on the social and environmental performance of companies and investment portfolios.
In a blog post announcing the funding, Net Purpose CEO Samantha Duncan said, “At our core, we knew that if we could create a fact-base that worked for these investors, we’d be laying strong foundations from which to expand our offering to the wider ecosystem.
“And it worked: In the 2 years since we launched, Net Purpose has become a leading provider of investment-grade data on the social and environmental performance of companies and funds. In that time, we’ve seen 10x growth, and now power $50 billion in sustainable funds.”
This Series A capital will enable the company to make its services available to more investor types.
The capital injection will enable Net Purpose to expand the coverage of its data set. To do this, it will be adding more sources and cleaning, structuring and standardising it.
Funds will also be used to build new tools for a wider range of investors. Finally, the equity will help increase automation on the platform.
Duncan added, I’ve always been inspired by the power of capitalism, and believe in its ability to achieve a sustainable world.”
Earlier in the year, sustainable investment platform Goodvest closed its crowdfunding campaign on €588,739, which is more than double its target.
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