Pyrpose, a pioneering climate FinTech platform geared towards climate finance, has reportedly announced its successful funding round.
In the angel round, the Geneva-based firm secured a robust investment of $1.1m, according to a report from Founders Today.
The lead investor, CV VC, an early-stage venture capital investor with a focus on global start-ups utilising blockchain technology, stood out among others. In addition to institutional backing, Pyrpose attracted a network of international business angels dedicated to a future where all can financially contribute to climate solutions.
A central element of Pyrpose’s innovative model is to empower consumers to understand their individual carbon footprint and, subsequently, manage their climate actions. The platform enables users to directly invest in climate solutions, resulting in returns while providing essential working capital to small and medium-sized enterprise (SME) climate innovators. This unique blend of conscious consumption and investment paints a hopeful future for our planet.
The freshly injected funds will be used to finalise Pyrpose’s private beta phase and further refine its product. The firm aims to launch its minimum viable product (MVP) in Q3, demonstrating a clear ambition for accelerated growth. In parallel, the FinTech start-up is also preparing to commence its seed funding round in the coming weeks.
Kevin Kyer, CEO and co-founder of Pyrpose, underscored the company’s mission. He said, “Our primary goal is to reduce carbon emissions. We achieve this by empowering climate-conscious consumers, whom we refer to as ‘now gens,’ to directly invest in climate solutions. Environmental impact and financial returns should be accessible to the majority.” Kyer further praised the support and funding from both angel investors and CV VC, acknowledging the challenges of making climate finance accessible to the many.
David Long, principal & head of investments at CV VC, recognised the burgeoning demand for individuals to utilise their funds effectively in the climate change battle. He highlighted how Pyrpose’s engaging and user-friendly platform allows users to align their values with their financial decisions, leveraging blockchain technology for a transparent, trustworthy, and secure record of their investments.
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