Almond Impact, a UK-based environmental startup, is set to close its equity crowdfunding campaign on Crowdcube with more than £540,000 raised. The campaign was launched last month, originally seeking £500,000. As previously reported, Almond claims to be the first app that empowers anyone to become carbon balanced by helping them to buy better, act better, and offset the rest. Its app with carbon analytics from WWF has more than 2,400 users.
“Our free app turns spending into a force for good, by automatically planting and protecting trees whenever purchases are made with our responsible brand partners via a connected bank card.”
Almond further reported its business model includes three core revenue streams, which are commission on consumer purchases, SaaS brand membership, and offsetting products for businesses and individuals. Almond Impact has also formed a partnership with Stockholm Environment Institute to provide carbon analytics and it is speaking with two challenger banks to enroll their customers to its platform.
“70% of the global population are concerned about climate change but we estimate that only <0.1% know their carbon footprint – and even fewer offset it. Almond is a platform that empowers individuals and businesses to easily understand, reduce and offset their carbon footprint – and become carbon balanced.”
Almond is offering 11.54% in equity at a £3,976,200 pre-money valuation. So far, the campaign has attracted nearly 350 Crowdcube investors. Funds from the Crowdcube round will be used to continue the growth and development of the Almond Impact platform. The campaign is set to close later this evening.
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