Investing for the greater good app Novus World beats crowdfunding goal

Novus World, a banking app that claims to make everyday spending a force for good, has surpassed the target of its crowdfunding campaign.

The FinTech company has achieved £1m, at the time of writing, with another 23 days left on the Seedrs campaign – its initial target for the investment was £900,000.

So far, 275 investors have contributed to the round.

Its app is currently live with 200 beta users and has 25,000 people on its waitlist.

Founded in 2020, its flagship product B Corp is an impact banking app that gives users the power to have a positive change whenever they spend money. Whenever a person uses their card they will earn coins, which can then be used to support over ten causes, including ocean conservation, education, hunger alleviation and reforestation.

The user can also track their carbon footprint to understand how purchases are impacting their footprint and how they can offset them by backing environmental projects. There are more than 100 ethical brands across different categories.

There has been a big push towards ESG this year. Regulators around the world have been implementing more legislation to encourage firms adopt the principle. Hong Kong Securities and Futures Commission’s chairman recently called for global ESG standards to help prevent cases of greenwashing.

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