There’s a new socially conscious investment app coming to Australia
Co-founders of Goodments, Emily Taylor and Tom Culver. Image: Supplied
You can help crowdfund for Goodments, an app that will enable Australians to invest in ethical companies of their choice.
Sydney startup Goodments is creating a more sustainable future by making it easy for Australians to invest in sustainable, ethical companies of their choice.
The app will match people to companies that align with their personal social, environmental and sustainable values, allowing consumers to buy shares in companies and put their money where their heart is.
Speaking with finder.com.au, co-founder of Goodments Emily Taylor said, “We’re on a mission to make it easier for people to invest in good business.”
“We believe businesses will ultimately drive the most change and secure the future of the planet. Investing solutions today are not evolving in line with shifting attitudes and needs. Making solutions cheaper and automating the offerings isn’t enough for a generation of more ethically minded investors,” she said.
Driven by increased consumer demand, particularly from millennials, more investment platforms and robo advisers are offering sustainable investment options. Just last month, micro-investing app Acorns launched an Emerald Portfolio, an investment option designed to meet environmental, social and corporate governance standards.
Taylor says that Goodments will give investors more choice than what is offered by robo advisers, which invest in a range of managed funds on an investor's behalf.
“Whilst there are some great new companies on the market... these classic robo-advice offerings do not give investors the level of choice they want. Our customers are looking for choice, more control and the ability to define what sustainability means to them... for example, for some, renewable energy is a priority, for others, it’s community development or gender diversity.”
“By overlaying independent sustainability ratings on financial data, Goodments gives users a complete picture of a business, allowing us to match shares to a customer’s personal values. This is done with an algorithm that uses choice modelling to prioritise sustainability issues, as well as exclusions, to serve up a unique set of matches to each user. They can then explore and buy local and international shares through the app,” said Taylor.
Goodments is currently running a crowdfunding campaign to raise the extra capital it needs to develop the final stages of the platform, with a planned launch date in August. Investors who are interested in funding the new app can choose between a range of funding options starting from just $20.
In exchange for people’s donations, there are some great rewards on offer, including discounted annual subscriptions to the new app, eco-friendly products like Keep Cups, reusable food wrapping and photography pieces.
“We are already seeing such a great level of support and an amazing level of engagement with what we are doing. Ultimately the support we are getting from the crowdfund will help us bring Goodments to the market much sooner,” said Taylor.
If you’re keen to participate in the crowdfunding campaign, there are only five days left to do so. You can participate here.
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