Tumelo offers a personal portfolio for social good
by Startacus Admin
With Tumelo, you can invest anything from £5 into a personal portfolio that is made up of businesses that are doing social good, thus partaking in ‘socially responsible investment’
A lot of us like the idea of investment. It sounds like something fancy people who know what they’re doing take part in, and it makes them rich. While we suspect there may be more to it than that, we’re going to put on our fanciest M&S suits and investigate how we normal people might invest our money wisely and in a way that will do some good for others at the same time.
Bristol-based Tumelo is a fintech startup whose philosophy is to contribute to ‘the wellbeing of people and the planet by engaging with companies to create the world we want’. That sounds like a good way to invest money to us.
With Tumelo, you can invest anything from £5 into a personal portfolio that is made up of businesses that are doing social good, thus partaking in ‘socially responsible investment’. This means businesses that have strong environmental policies and initiatives, promote human rights and diversity, pay fair wages and actually pay taxes (which shouldn’t have to be a consideration, but that’s the world we live in!).
Examples Tumelo gives of companies that fall under socially responsible investment opportunities are Nike, who collect old sports shoes and recycle the material to surface children’s playgrounds; H&M, making payment of their employees around the world more transparent and improving their access to financial services; and Diageo, Baileys’-owning drinks conglomerate with a diverse, gender-equal board, a strong whistleblowing policy, and high levels of external accountability.
Tumelo have become one of 23 fintech startups to join Tech Nation’s growth programme, which will start on October 24. Over the following six months, Tech Nation will work with these startups to grow and scale their businesses at speed, and help them take full advantage of being located in the world’s top fintech hub (the UK, that is), which has attracted over £4.5bn in investment in the last three years.
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Published on: 22nd September 2019
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