OAKLAND, Calif., Sept. 19, 2022 (GLOBE NEWSWIRE) — Building on the momentum of its impression platform—already adopted by company leaders together with Apple, Mastercard, Netflix and PayPal as a scalable technique to tackle wealth inequality in the U.S.—CNote introduced as we speak that it raised $7.25 million in an oversubscribed Series A funding spherical.
American Family Insurance Institute for Corporate and Social Impact led the spherical, joined by Astia Fund, BankTech Ventures, Commerce Ventures, CityRock Venture Partners and different buyers.
CNote offers company treasurers a robust ESG instrument, driving excessive progress
“We’re addressing a massive systemic problem with a market-friendly platform that has already been adopted by forward-thinking corporations and other institutions,” mentioned Catherine Berman, CEO and co-founder of CNote, which deploys investor funds into neighborhood monetary establishments that advance financial equality, racial justice, gender fairness and local weather change adaptation. “By pumping hundreds of millions of dollars into undercapitalized communities, CNote is activating corporate dollars for systemic change while minimizing risk.”
CNote’s know-how platform offers firms a easy, secure technique to deploy ESG money and stuck revenue in underserved communities at scale. CNote locations investor funds into deposit and mortgage merchandise via a community of over 2,000 impact-driven neighborhood monetary establishments that serve low- to moderate-income communities, assist girls and other people of coloration entrepreneurs, fund inexpensive housing and supply different types of financial inclusion.
CNote is deploying about $300 million in money and fixed-income investments by way of its platform—reflecting over 370% progress since 2020. The platform has 1,900 company, basis and particular person buyers, together with AMD, Patagonia and Xylem, in addition to the firms listed above.
Noted Berman, “For CEOs, CFOs and large institutional investors, CNote has the network, the community finance expertise and the technology to provide unparalleled access to ESG cash and fixed-income opportunities at scale alongside trackable impact. We’ve reduced the friction points so they can activate their balance sheets quickly and with minimal effort.”
The Series A funding will allow CNote to advance its know-how, increase its gross sales staff and deepen its community of neighborhood monetary establishments.
Mission-aligned buyers intention to advance equality and construct robust communities
The Series A spherical displays the women-led fintech’s perception that assembling a various stakeholder group is essential to multiplying its successes. “We’re co-creating the future we want to see, and that requires bringing key stakeholders to the table, including these investors,” Berman mentioned.
“CNote is leading the way in providing capital for CDFIs [community development financial institutions] and minority depository institutions, capitalizing on the exploding ESG market,” mentioned Rob Kornblum, principal and portfolio supervisor for the American Family Insurance Institute for Corporate and Social Impact. “We know that capital access is one of the keys to producing generational wealth for underserved communities. We are thrilled to partner with Catherine and Yuliya [Tarasava, CNote co-founder] in leading the Series A round for CNote.”
H/L Ventures, a longtime advisor to CNote and a previous investor, manages a household of firms and funds that includes a holistic company-building system.
“CNote is breaking new ground in impact investment, enabling some of the largest organizations in the world to make a difference with their treasury dollars,” mentioned Oliver Libby, co-founding Managing Partner of main New York enterprise agency CityRock Venture Partners, H/L Ventures’ alternative fund. “Our firm seeks startups with high growth potential, positive impact and diverse leadership teams; under Catherine and Yuliya’s inspired management, CNote exemplifies the extraordinary, scalable business potential of investment for impact.”
Other buyers in the spherical embrace return individuals The Artemis Fund, BLD Ventures, Golden Seeds, Lateral Capital V LP, ManchesterStory Venture Fund, Oxford Angel Fund and Rebalance Capital.
About CNote
CNote, co-founded by Catherine Berman and Yuliya Tarasava, is a women-led impression platform on a mission to shut the wealth hole via monetary innovation. Using the energy of know-how and a community-first framework, CNote permits firms, establishments and people to effectively make investments at scale in fixed-income and time deposit merchandise that advance financial equality, racial justice, gender fairness and local weather change adaptation. CNote delivers common reporting on the social impression of deposits and investments made via its platform. A Certified B Corporation, CNote was a B Lab “Best for the World” honoree in 2019 and was named “Best Women-Owned Business” by the U.N. Women’s Empowerment Principles program in 2020.
About The American Family Institute for Corporate and Social Impact
The American Family Insurance Institute for Corporate and Social Impact is a enterprise capital agency and accomplice of selection for distinctive entrepreneurs who’re constructing scalable, sustainable companies in a long-term effort to shut fairness gaps in America. It additionally acknowledges that capability constructing and supporting organizations and consultants who’ve been working towards social causes are equally vital in making a optimistic impression inside our communities round the nation.
Contact Information:
Sarah Grolnic-McClurg
Principal
[email protected]
510-898-1837
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