SAN FRANCISCO, CA - April 28, 2022 - Carbon Collective, the first online investment advisor 100% focused on solving climate change, today announced an oversubscribed seed round at $2.2 million, featuring Powerhouse Ventures, HyperGuap, and Elevation Ventures. This adds to additional funds raised by earlier seed and angel investors Precursor Ventures, My Climate Journey, and Climate Capital.
Founded in 2020, Carbon Collective has a B2C robo investment offering, a B2B Green 401(k), compiled the most comprehensive list of climate solution stocks in its 2022 Climate Index, and they recently published their educational Ultimate Guide to Sustainable Investing. The seed round funds will be used to launch an initial investment product, improve the member experience, and hire talent.
“For us to solve climate change and avoid catastrophic warming, we need sustainable investing to be simple, affordable, and be driven by a clear theory of change. However, current ESG investing options offer just the opposite. These options are based on a complex series of proprietary data, which are not accessible to the retail investor, are more expensive than generic investing, and have no clearly defined link to how your investments can drive impact,” said Zach Stein, co-founder, Carbon Collective.
"Powerhouse Ventures has been looking for a company like Carbon Collective for years,” said Emily Kirsch, Managing Partner, Powerhouse Ventures. “Retail investors are demanding investment opportunities that actually advance climate solutions and the market has not delivered, until now. We are excited to back the Carbon Collective team and to use the platform ourselves.”
In addition to closing the seed round, Carbon Collective announced that Brooke Tomasetti has joined the team as Director of Financial Education and Community. Tomasetti is a personal finance coach and founder of Money Life Mentor. She immediately contributed to the recently published Ultimate Guide to Sustainable Investing, specifically writing the fundamentals of investing chapter. In her role, she will also drive the Company’s education, social media presence and be a featured personal finance resource for interviews, guest articles, and workshops.
“The world only changes when enough individuals decide to change it," added Stein. "To have the level of impact we intend to have, we have to start from the bottom up. Given that, our goal with this raise is to continue broadening our foundation of mission-driven investors through our low-fee, zero minimum robo advisor and green 401(k) program for mission-driven startups and nonprofits.”
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About Carbon Collective
Carbon Collective is the first 100% climate focused online investment advisor with the mission to close the annual $5 trillion dollar climate investment gap. By divesting portfolios from fossil fuels, and reinvesting that same allocation in climate solutions, Carbon Collective makes investing in climate solutions accessible to all with low fee, zero minimum, highly diversified portfolios, with 85% fewer emissions. The Company augments its investment strategy with shareholder advocacy, leveraging member’s votes to advocate for corporate climate action. Founded by Zach Stein and James Regulinski, and backed by prominent venture capital firms like Precursor Ventures and My Climate Journey, Carbon Collective is out to disrupt the finance industry and solve climate change.
For more information on Carbon Collective, please visit https://www.carboncollective.co
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