Crowdfunding delivers £1.57m boost for ethical investment platform Abundance
Peer-to-peer ethical investment platform Abundance Investment has secured a seven-figure crowdfunding boost.
The London-based company set a target of £1.2m in its campaign on Seedrs, but ended up raising over £1.57m from more than 1,000 investors.
Abundance will use the funding to meet a demand for more environmental and social investments on its positive-impact platform.
Since launching six years ago, the firm has raised £82m for 34 green and socially useful projects.
Abundance customers are able to invest from £5, via debentures (bonds), in projects including farm-scale wind turbines, geothermal energy, tidal energy and social housing.
Bruce Davis, the company’s co-founder and managing director, said: “As investment specialists, we’re especially pleased by the strong response to our own share offer, which is a big vote of confidence in our mission.
“As the first ever regulated practitioner of crowdfunding it’s important to us that ordinary people can join us as shareholders.”
He continued: “Our mission has always been to help to build a more democratic and open financial system giving people control over their money.
“Creating an even bigger community of investors, not only in our projects but also in us, supports our work helping the transition to a cleaner, low-carbon and socially beneficial economy.”