Finnish climate impact investing app Cooler Future has raised EUR1.4 million from a host of European VCs and impact angels.
Lifeline Ventures, Nordic Makers, Gary Lin and Patrick Schmidt have invested in the startup, which has created an app that helps users invest in a climate-friendly portfolio of assets and track the CO2e impact of their investments alongside their financial returns.
Cooler Future says it will offer a globally diversified Fund that invests exclusively in sustainable companies and projects committed to cutting down emissions.
Matti Rönkkö, founder, says: “Redirecting investor attention to companies that actively reduce carbon emissions is a conversation changer for climate change, however there is no widespread public awareness about that yet.
"Our mission is to introduce and standardize the climate impact metric in the investment industry as the third metric next to traditional risk & return. We want to challenge the status quo by showing people the real power their investments can have in fighting climate change."
London-based rival Clim8, which is live in Beta and began rollout to its 10,000 strong waitlist earlier this year, closed a £650,000 seed round last year and is currently conducting a Crowdcube campaign to raise further funds. Initially set at £400,000, the total secured now stands at over £1.5 million and has been extended by a further seven days.