
- CNote closed $7.25 million in Collection A funding.
- The spherical was led by American Household Insurance coverage Institute for Company and Social Influence.
- The funding brings CNote’s complete funding to nearly $15.5 million.
Funding platform CNote raised $7.25 million at present in a spherical that boosted the corporate’s complete funds to nearly $15.5 million.
The Collection A spherical was led by American Household Insurance coverage Institute for Company and Social Influence. Astia Fund, BankTech Ventures, Commerce Ventures, CityRock Enterprise Companions, and different buyers additionally contributed.
The corporate plans to make use of the funds to advance its expertise, develop its gross sales staff, and deepen its community of group monetary establishments.
CNote was based in 2016 to shut the wealth hole by enabling buyers to spend money on an financial system that works for all populations, particularly these in underserved communities. Utilizing the CNote platform, companies, establishments, and people can spend money on fixed-income and time deposit merchandise which can be vetted to assist advance financial equality, racial justice, gender fairness, and local weather change adaptation. When an investor locations funds into CNote, the corporate directs the cash into deposit and mortgage merchandise by its community of over 2,000 ESG-focused group monetary establishments.
“We’re addressing an enormous systemic drawback with a market-friendly platform that has already been adopted by forward-thinking companies and different establishments,” mentioned CNote CEO and Founder Catherine Berman. “By pumping lots of of thousands and thousands of {dollars} into undercapitalized communities, CNote is activating company {dollars} for systemic change whereas minimizing danger.”
Seeing an funding in an ESG-focused firm is no surprise, regardless of the present funding dry spell going down throughout the fintech trade. Finish shoppers are extra hungry for ESG-related merchandise than ever, and the trade has been struggling to maintain up with demand on this enviornment. We will count on to see extra funding go towards corporations touting ESG missions within the latter half of this 12 months.
Photograph by David Alberto Carmona Coto