Australian FinTech Bloom nets seed to support climate impact investing app

Australian FinTech Bloom nets seed to support climate impact investing app

Bloom Impact Investing, an Australian FinTech for investing into climate impact, has reportedly secured $525,000 in its seed round.

Euphemia, which is the family office of Up co-founder Dominic Pym, and Envato founders Collis and Cyan Ta’eed led the seed round, according to a report from FinTech Finance News.

With the capital, Bloom hopes to hire a full-time business development resource, improve operations and grow its community.

Bloom co-founder and CEO Camille Socquet-Clerc explained that the idea for Bloom came after wishing to invest in sustainable and climate positive investments, but finding most opportunities restricted to wholesale and institutional investors by buying into individual stocks.

After seeing this, Socquet-Clerc had the idea to build a platform for everyday individuals to invest into these types of companies.

Bloom is a mobile app that allows users to invest into a variety of climate-focused businesses, including solar and wind farms and energy storage. It also opens access to unlisted alternatives, such as green bonds, clean energy loans and infrastructure projects.

This seed round comes alongside Bloom’s latest milestone. It has surpassed $1.6m in funds under management and named FutureSuper founder Adam Verwey as its new executive director.

Verwey will lead Bloom’s community, partnerships and operations, with the aim of helping Bloom help more people have a positive impact on the planet.

Speaking on the seed round, Euphemia co-founder and director Dominic Pym said, “Australians are acutely aware of the climate crisis and Bloom helps put the power back in their hands by investing in the industries and solutions addressing the climate crisis today.

“Camille is a remarkable founder and climate leader. She has assembled a strong team to fuel the company’s growth in the marketplace.”

Earlier in the week, fellow Australian FinTech Till Payments laid off 120 employees as it blamed inflationary pressures and a shrinking global economy. Alongside this, the PayTech company added three new board members.

Till Payments allows small, medium and large businesses to access various payment methods.

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