FLIT Invest, an automated impact investing app with impact tracking, has raised $750,000 in its pre-seed funding round.
We are a New York based fintech start-up called FLIT Invest, and in our pre-seed funding round raised $750,000. Our automated impact investing app with impact tracking looks to commence seed funding in the Fall of 2022, preparing for a public launch later this year.
FLIT Invest is an automated impact investing app that allows users to align their investments with their values without sacrificing returns. Customers can reach their financial goals and track their portfolio’s social and environmental impact. Founded in 2020, the company bootstrapped from founder commitments until its pre-seed round. The funding round was heavily oversubscribed and was closed at the hard cap of $750,000 at the end of January 2022. The financing round focused on strategic investors from the financial services space who shared FLIT Invest’s vision and could provide long-term value to the organization. It was important to our founders to work with investors who were also impact-motivated and recognized the need for a product that makes sustainable investing accessible for everyone. These included investment bankers, hedge fund traders, private equity investment professionals, consultants, and impact investors.
Co-founders Alejandro Fritz, Serena Fleischman, and Richard Papp were motivated to create FLIT Invest by the lack of options for simple, automated, and sustainable investing. To them, the market offered no real impact investing, only a greenwashed, watered-down version of ESG investing. It was particularly Richard and Alejandro’s background in wealth management and investment banking that gave insight into the gatekeeping of truly sustainable investment options for only the wealthy and ultra-wealthy.
“When we saw that ‘sustainable’ portfolios available included McDonald’s, Exxon Mobile, and Chevron in the largest holdings, we knew there had to be a better way to get people invested in truly sustainable portfolios. I knew that the unknowing investor would invest in a highly greenwashed solution despite having good intentions.”
CEO and Co-Founder, Alejandro Fritz.
At FLIT Invest, we seek to make investing accessible to those looking to invest in solutions making an impact in the world while generating financial returns. We want a more green, just, and equitable future. By democratizing impact investing, the FLIT team believes that retail investors can be the drivers of systemic change by collectively voting with their dollars to influence corporations and accelerate the transition to a sustainable future. Since its inception, FLIT Invest has been made up of a global team of experts spanning finance, sustainability, and technology. These diverse perspectives inspire creative and innovative developments toward our mission.
We have been utilizing the pre-seed funding to develop our app to bring to market. FLIT Invest is simultaneously executing several strategic partnerships and anticipates starting its seed financing round in the coming months. The FLIT app is currently in beta, available by invitation only to users on their waitlist. People interested in joining the waitlist can sign up at www.flitinvest.com!
