Climate Fintech Pyrpose Secures $1 Million in Angel Round

Fundraising News
25.05.2023 02:35 pm

Pyrpose, a breakthrough climate finance platform which connects climate-conscious consumers directly with climate innovators to reduce future carbon emissions, is looking to accelerate its growth trajectory after announcing today that it has completed its fundraise.

The Geneva-based start-up has raised US$1.1m (CHF1m) in its angel round, including institutional investment from CV VC, an early-stage venture capital investor with a focus on global startups that build solutions using blockchain technology. It has also attracted the backing of business angels across the globe that believe in a world where all of us can participate in funding climate solutions.

The Pyrpose platform allows consumers to understand their own carbon footprint and puts them in control of their own climate action. They can directly invest in climate solutions and generate returns, while at the same time providing SME climate innovators access to much-needed working capital to improve the future of the planet.

Kevin Kyer, the CEO and Co-Founder of Pyrpose said: “Our purpose is to reduce carbon emissions. We do this by enabling what we call “now gens” - or climate-conscious consumers - to directly invest in climate solutions. Doing good for the environment and making a return should be available to the majority.”

The funds from the latest raise will be used to complete the company’s private beta and to continue to refine its product to launch its minimum viable product (MVP) in Q3. It is also looking to open its seed round in the coming weeks to accelerate the mission yet further.

“Gaining access to solutions that truly reduce carbon emissions and allow for the everyday person to be rewarded is the model to solve for the climate crisis. Supporting the climate used to be a donation. We’ve made it an investment,” added Kyer. “I am grateful for the support and funding of our angels and CV VC. We are not chasing an easy task of making climate finance accessible to the majority, and it takes great support from people and companies that share our values.”

David Long, Principal & Head of Investments, CV VC, added: “Pyrpose addresses an untapped demand for people to put their money to good use in the fight against climate change. By offering an engaging, simple-to-use platform, users can align their values with their financials for the benefit of the future of our planet. Utilizing blockchain technology, Pyrpose ensures users experience a transparent, trustworthy and secure record of the investments made.”