HawkInsight

  • Contact Us
  • App
  • English

Wealthify offers conversion welcome bonus for Clim8 customers

Clim8 is an investment platform that aims to make a positive impact on climate change by directing funds away from fossil fuel investments towards clean, green energy and sustainable companies.。

Wealthify 为 Clim8 客户提供转换欢迎奖金

What happened to Clim8??

Clim8 was unable to raise funds from existing and new investors to continue operations and expand its customer base。

Founded in 2019, Clim8 aims to provide impact investing to individuals who, like the founders, are unhappy with the "greenwashing" of environmental issues in other sectors of the financial industry.。

But as Clim8 says, the economic environment has changed, and enthusiasm for investing in startups has waned over the past 12 months.。As a result, the company was unable to obtain more venture capital funding。

Clim8 has written to all customers and stakeholders to inform them that the company is ceasing operations and is working with Wealth Kernel, which is regulated by the FCA, to ensure that customer funds are protected in the process.。

Wealth Kernel, also a fintech company, is a provider of "turnkey" embedded financial solutions that provide customers with a platform to manage customer onboarding, trading, custody, payments and other services.。

Clim8 also noted that money management firm Wealthify will offer Clim8 clients a welcome bonus if they transfer their portfolios to the firm's ethics program.。The scheme aims to support sustainable investment, excluding companies that damage the environment or cause social harm.。

What are the problems with investing in startups??

Back in October 2020, Good Money Guide explored issues related to fintech startups, asking: Is a loss-making fintech investment provider worth the risk??

Apparently, Clim8 isn't the only fintech start-up that has had to make tough choices recently。

Spiral, a New York-based business, has dropped its original plan to offer an ethical banking app that would let users easily donate to charity.。

Instead, Spiral will transform itself into a B2B business, offering banks, credit unions and other fintech companies the ability to embed sustainable and social impact investments into their existing businesses.。And, Spiral raised another $28 million through Series A funding round for the launch of new businesses.。

What happens when your investment platform goes bankrupt??

If the company through which you invest goes bankrupt or fails and the company is regulated by the FCA, there are protections and procedures in place to protect your assets。

In particular, insurance provided by the UK Financial Services Compensation Scheme (FSCS)。FSCS provides 8.A guarantee of £50,000。

Not every fintech company will succeed, and it will ultimately be up to the market to decide which companies will survive and which will fail or be acquired.。

Clim8 is unlikely to be the last fintech company to fail in 2023, and we believe there will be further consolidation and loss within the industry。

In an environment of increased competition and declining fees and margins, financial services firms need to acquire critical mass to survive。

Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.