Thu.Aug 5th , Aug 2021 12:11:17 PM
Remagine secures $24Mn in funds to finance impact-led startups

Remagine- an early-stage venture capital fund has reportedly raised €20 million (USD 24.2 million) in seed investments. The raised funds will reportedly be used to accelerate its product development, expand its team, and develop a financial platform that not only supports but also rewards the businesses for being impactful.  

For the record, the Berlin-headquartered fintech has provided more than 20 revenue-led financings to startups, along with operating in stealth mode. Some of the notable names in the investor panel include prominent names in the international fintech industry like Jonathan Weiner- Global Head of Google Payment and Michael Vaughan- ex- COO of Venmo.

Incorporated in the year 2019 by Sebastian Dienst and Julia Profeta Johansson, both serial founders and impact investing professionals, the main belief of the company is that each business can be more impactful and sustainable with its approach without compromising on its profits. Remagine offers an advanced financial solution tailored to founders, that helps them accelerate their positive environmental and social impact.   

In addition to the above, the company also focuses on simplifying the transition to a more sustainable and responsible world through its operations. For instance, Remagine has committed to various impact-driven efforts, financing and card transactions made, and per account opening. Moreover, the company also promises to contribute 10% of its profits to impact causes.  

According to Julia Profeta Johansson, Co-Founder and Co-CEO, Remagine, the venture has extended finance to many companies in the past and with the raised funds, the company will be able to extend support to many more startups.

The firm is also going to introduce its accounts and cards and is aiming at growing its team, and help build a world where profits and sustainability is in line, Julia stated.  

Seemingly, the company’s tailored products offer advanced services that are designed to meet the needs of customers such as zero-negative interest, analytics, Multi-IBAN payments, and free accounts.

 

By Shreya Bhute

With corporate exposure in software and marketing, Shreya was always intrigued by content development. Having pursued her graduation in I.T. engineering, she works as a content writer for people.partilepep.com and jots down news articles across distinct domains including technology, business and healthcare.