French fintech start-up Green-Got is bringing climate conscious banking to Europe. The neo-bank has raised €5 million – part venture capital and part crowdfunding. Funds will fuel a European expansion - Belgium is on the list - and will develop its offering of personal saving accounts and accounts for sole traders.
“We have built Green-Got since day one with our community. This dream to build a bank that funds the transition is a dream we share with all our users. It was very important for us to enable them to be technically associated with the project they have supported for months now. We are changing the financing model so that everyone, regardless of their financial status, can join the adventure. Not only the biggest international investors.” says Maud Caillaux, Green-Got co-founder.
From the get go Green-Got set a limit of €3 million to be raised in venture funding, maxing that in a round led by climate tech VC Pale blue dot. The rest of the funding, €1.9 million was raised from crowdfunding through its community - apparently over 10,000 customers showed interest in the investment opportunity but it was gone less than 80 minutes, with 1,350 people investing in the €1.9 million limit.
True to its values, the green banking platform dedicates financial support to the cause as it supports impact projects like the afforestation and preservation of forest ecosystems, cleaning the oceans from plastic pollution, and developing renewable energy where it is most needed.
"We are facing a big demand in this growing green finance market in Europe. Our challenges today are prioritising these market demands: which countries offer for which customers. We are delighted to see such growth and enthusiasm. This fundraising will allow us to scale the offer and the impact of Green-Got," says Andrea Ganovelli, CEO and co-founder of Green-Got.