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Fintech Is Becoming Popular. Bloom Has Launched an App for Investing in Climate Change Repercussions

Fintech Is Becoming Popular. Bloom Has Launched an App for Investing in Climate Change Repercussions

Brisbane-based tech startup Bloom is seeking to debunk the myth that making money and saving the planet are mutually exclusive, with the launch of a climate impact investment app.

By making premium green investments widely accessible, co-founders Camille Socquet-Clerc and Bertrand Caron aim to disrupt and democratise the impact investing market with their climate impact fund that invests in companies previously only open to wholesale and sophisticated investors.

Backed by the founders of tech unicorn Envato and EnergyLab, the smartphone-based investment app features a mix of green bonds, publicly listed stocks like Tesla and BluGlass (ASX: BLG), and privately-held projects.

Socquet-Clerc believes young people have been crying out for an avenue that enables them to invest in companies that have a meaningful impact on the planet and is very excited to be launching the product for two main reasons.

“First, as a female founder in financial services, it was not easy to go through all the regulations, build the right network, and get to a point where I could launch a product in a very highly regulated environment and male-dominated industry – so that that feels great,” co-founder of Bloom Socquet-Clerc tells Business News Australia.

“The second reason is that it feels absolutely amazing to be working towards something very practical and concrete, which is solving climate change.

Every day in the news, I’m reminded of Bloom’s relevance with all the catastrophic climate events we’ve been through, extreme weather events, floods, etc.”

Named after the flourishment of growth in nature, Bloom was founded in 2018 after Socquet-Clerc felt a call to arms upon reading the 2018 Intergovernmental Panel on Climate Change (IPCC) report highlighting the impact of climate change.

Having grown up in the French Alps, she was all too familiar with the changing environment which impacted the snow on the mountains each year. However, the report instilled a new motivation inside her to leave her career in marketing to take up the cause on a more hands-on basis.

Caron, an engineer by background, is Socquet-Clerc’s fellow co-founder and fiancé and was instrumental in building out the technical side of the app and the cyber-security element.

Brisbane-based tech startup Bloom is seeking to debunk the myth that making money and saving the planet are mutually exclusive, with the launch of a climate impact investment app.

By making premium green investments widely accessible, co-founders Camille Socquet-Clerc and Bertrand Caron aim to disrupt and democratise the impact investing market with their climate impact fund that invests in companies previously only open to wholesale and sophisticated investors.

Backed by the founders of tech unicorn Envato and EnergyLab, the smartphone-based investment app features a mix of green bonds, publicly listed stocks like Tesla and BluGlass (ASX: BLG), and privately-held projects.

Socquet-Clerc believes young people have been crying out for an avenue that enables them to invest in companies that have a meaningful impact on the planet and is very excited to be launching the product for two main reasons.

“First, as a female founder in financial services, it was not easy to go through all the regulations, build the right network, and get to a point where I could launch a product in a very highly regulated environment and male-dominated industry – so that that feels great,” co-founder of Bloom Socquet-Clerc tells Business News Australia.

“The second reason is that it feels absolutely amazing to be working towards something very practical and concrete, which is solving climate change.

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“Every day in the news, I’m reminded of Bloom’s relevance with all the catastrophic climate events we’ve been through, extreme weather events, floods, etc.”

Named after the flourishment of growth in nature, Bloom was founded in 2018 after Socquet-Clerc felt a call to arms upon reading the 2018 Intergovernmental Panel on Climate Change (IPCC) report highlighting the impact of climate change.

Having grown up in the French Alps, she was all too familiar with the changing environment which impacted the snow on the mountains each year. However, the report instilled a new motivation inside her to leave her career in marketing to take up the cause on a more hands-on basis.

Caron, an engineer by background, is Socquet-Clerc’s fellow co-founder and fiancé and was instrumental in building out the technical side of the app and the cyber-security element.

An individual investor must start with a minimum investment of $500, with the option of adding an ongoing minimum fortnightly top-up of $20, while trusts and companies must provide a minimum opening investment of $5,000.

Although there are no brokerage, sign-up or cancellation fees, Bloom charges a monthly account fee of $4.50 and a management fee of 0.8 per cent per year on the account balance.

Bloom is targeting the under-served young retail investor, which seems wise given that the Australian Stock Exchange predicts 3.9 million millennial Australians aged between 27 and 37 have disposable income to invest.

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