Sugi, a UK-based green investment mobile app, is set to close its equity crowdfunding campaign on Crowdcube with more than £385,000 raised. The funding round, which originally sought to raise £350,000 has attracted 275 Crowdcube investors. Sugi is now offering 3.62% in equity at a £9.5 million through the investment round.
As previously reported, Sugi describes itself as a new way for everyday investors to engage with green investing.
“Our mission is to transform green investing. To make it easy for everyone to build a greener portfolio. There’s real demand for green investing in the UK but not much action so far because it’s too difficult. We set up Sugi to change that. Whether you’re taking the first steps towards green investing or an experienced investor looking for deeper insight, we want to help. Sugi gives you clear green data about your own investments, so you can understand your personal climate impact and make informed decisions when managing your portfolio.”
The platform does not sell investments. Instead, it connects to users existing investment platform, whether they have an ISA, SIPP, or trading account, so they may do the following:
- Discover the environmental impact of portfolios
- Learn how individual investments affect the planet
- Compare impact with similar investments
- Take action to improve impact
The company also revealed:
“There are over 3 million DIY investors in the UK, with over £210 billion of investments. 76% of us want our investments to have a positive impact. But sustainable investing is too complicated and the information we want often isn’t available. Sugi changes that.”
In regards to what it plans to use the Crowdcube funds for, Sugi added:
“Our last funding round was oversubscribed, and we’re crowdfunding now so more people can join our investor community. With your money, Sugi will fund product innovation, expand the team and implement our growth strategy – leveraging our position as first to market.”
The funding round is set to close this upcoming weekend.
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