UK startup Charm, the peer-to-peer impact investment platform, has raised around €300K from 547 investors in an equity crowdfunding campaign on Crowdcube, breaking it’s target by 273%.
The London based fintech, founded in 2018, democratises impact investment via its peer-to-peer platform, overall helping clean energy entrepreneurs in developing economies to gain access to finance and further the energy transition. In turn, it empowers individuals to earn financial returns and benefit society by making life-changing loans to these entrepreneurs who are working towards a cleaner, brighter future. To date, it has empowered 1,883 people and 59 businesses with renewable electricity, with five live projects across two continents.
Charm Impact was set up by energy and financial services technology consultant Gavriel Landau and social finance professional Bethany Larse. Their platform allows investors to invest from around 280 in dedicated projects across Sub-Saharan Africa, South and Southeast Asia that actively benefit society, whilst earning an average 8% interest per year. Loans last up to 24 months and investors are provided full transparency across the loan lifecycle for who they support and the impact they generate.
CEO and founder Gavriel Landau commented on the raise: “We were thrilled to see our mission resonating with so many investors. As individuals we often feel powerless in the face of global issues such as climate change. Being part of the Charm community enables individuals to come together to make money and do good at the same time, in a transparent and traceable manner. We are just at the start of this incredible journey and the funds we have raised now, along with our 550+ investors puts us in a great position to accelerate our growth and make a real impact.”
With the funds raised, Charm plans to expand its team, develop its platform and raise its brand awareness, as well as becoming an FCA certified entity. The startup has commented that it’s excited to put this capital to use and welcome over 500 new investors onto their journey to change the way the world invests.
