Innovative climate finance platform Pyrpose raises USD 1.1 million
1 June 2023
Geneva-based start-up Pyrpose, an innovative climate finance platform, has successfully raised USD 1.1 million in its angel funding round, setting the stage for accelerated growth.
Pyrpose is taking a unique stance in addressing one of the most significant challenges of our era – the climate crisis. Recognizing this issue as a failure of global coordination and a tragedy of the commons, the company understands that relying solely on governments, existing policies, and traditional financial structures may not provide the comprehensive solution the world urgently needs.
The start-up’s distinctive approach to climate finance leverages the principles of decentralized finance (DeFi) and regenerative finance (ReFi), blending them into a unique sector where consumers can directly access and support affordable climate solutions. The ultimate goal is to enable millions of consumers and thousands of businesses to interact, fund, and innovate on the platform, consequently contributing to the reduction of climate emissions.
The freshly infused capital, which includes investment from CV VC, a venture capital investor focused on blockchain technology-based solutions, and various global business angels, will fuel the refinement of Pyrpose’s product. Specifically, the funds will be directed towards completing the company’s private beta and launching its minimum viable product (MVP) in the third quarter. The start-up is also eyeing the initiation of its seed funding round in the upcoming weeks to further catalyze its mission.
David Long, Principal & Head of Investments at CV VC, supports the company’s vision, stating, “Pyrpose addresses an untapped demand for people to put their money to good use in the fight against climate change… Utilizing blockchain technology, Pyrpose ensures users experience a transparent, trustworthy and secure record of the investments made.”
Geneva: a strategic hub for climate finance innovation
The choice of Geneva as the company’s base is strategic. This canton, internationally recognized for its robust finance and diplomacy sectors, offers a favorable environment for a company like Pyrpose. Geneva’s strong commitment to sustainable development and environmental protection, paired with its thriving blockchain and finance ecosystems, positions it as an ideal location for a climate finance platform seeking to drive global change.
By amalgamating technology and purpose, Pyrpose is poised to disrupt the traditional climate finance sector. Its unique approach to leveraging capital for environmental support showcases the potential of innovative financial models in catalyzing meaningful, worldwide change in the fight against climate change.