Ethical investment platform Charm Impact has raised more than £200,000 in an equity crowdfunding campaign on Crowdcube to edge closer to its launch into peer-to-peer.
The unregulated platform provides peer-to-business loans to help clean energy entrepreneurs in developing economies gain access to finance.
With eight days left of its crowdfunding campaign, Charm Impact has smashed its £100,000 campaign target by 200 per cent by raising £209,710 from 446 investors so far. This is up from £123,610 raised at the start of the month.
The platform will use some of the funds to launch into the regulated P2P space by operating as an appointed representative of Rebuildingsociety. It will also spend money on expanding its team, developing its platform and raising brand awareness.
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“It has been incredible to see our mission resonating with so many investors,” said Gavriel Landau, co-founder and chief executive of Charm Impact.
“As individuals we often feel powerless in the face of global issues to know how we can make a difference.
“Being part of the Charm community enables you to group together with other people to make money and do good at the same time in a transparent and traceable manner.”
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To date Charm has launched five projects across West Africa and India that have enabled more than 1,800 people and 50 businesses to gain access to power through renewable energy.
Charm has been supported by Innovate UK and DFID, along with a private foundation focused on preventing climate change and mitigating its harm.