The Clim8 sustainable investment app has surpassed its $400,000 fundraising goal on Crowdcube, raising £502,920 from 288 investors with 29 days left.

The startup stated that it is now extending the round, raising additional funds for launch, team and marketing. With a waiting list of more than 5,000 people, the business is now building its pp for a planned launch in the second quarter of this year.

With 20 years experience of building CleanTech companies and investing in others as a venture capitalist, chief executive Duncan Grierson developed the idea for a sustainability-focused digital investment platform over the last two years. He has built a team of 10 out of an office in Hammersmith, London, with ex-Credit Suisse, Google, BBC and Amazon executives.

Clim8 raised a seed round of £650,000 in 2019 from investors with backgrounds in finance, including ex-Morgan Stanley and Deutsche Bank executives.

The company stated that it is also in the process of becoming an appointed representative of a Financial Conduct Authority-authorised entity.

"The world needs to invest an average of $2.4 trillion, every year, into clean energy, to meet the United Nations targets on climate change," read its crowdfunding page. "At the same time, 95 per cent of Millennials said they are interested in sustainable investing according to a Morgan Stanley study."

It added: "Clim8 plans to provide a simple way to invest into a targeted portfolio of publicly listed companies that are making an impact - sectors will include clean energy, clean technology, sustainable food, smart mobility and recycling."

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