The result of a year of research, Goodvest launched its savings offer to the general public in September 2021 with a life insurance product. A thousand customers and 10 million euros in savings under management later, the startup announces that it has completed a round of funding of 2 million euros with Super Capital VC, Globivest but also entrepreneurs such as Benjamin Gaignault (Ornikar ), Julien Callede (Made.com) and Dimitri Faber (Tiller).
This capital increase should allow the startup to accelerate its deployment throughout France and to offer new products. It plans to launch an application as well as an offer for children. With the latter, the company responds to a request from its customers who wanted to be able to set up life insurance for their children, in their own names and not make them mere beneficiaries. These numerous projects will require the recruitment of around fifteen people, who will also have the task of increasing the company’s reputation. These recruitments will double the current workforce of the startup, which has around fifteen employees.
Align investments with the Paris Agreement
Goodvest has chosen to tackle a product that is often poorly understood, perceived as restrictive and complex: that of life insurance. Exit the aging version of traditional banks, the FinTech has decided to reshuffle the cards to provide transparency and guarantees to its customers. The money thus invested by customers is only used to finance companies whose development strategy is aligned with a trajectory of global warming estimated at 2°C.
Aged 18 to 89, Goodvest savers come together around the desire to finance projects that make sense and to benefit from transparency on their savings. ” Customers have clearly asked us not to stop at one label. It is true that today, many SRI-labelled funds continue to finance fossil fuels” begins the CEO. Goodvest has therefore sought to stand out by showing its credentials.
” NOTWe quickly realized that management companies were all using different data” , which were therefore difficult to process and analyze, explains Joseph Choueifaty. Hence the partnership with Carbone4, which is responsible for analyzing the carbon footprint and the adequacy of the trajectory of companies with the objectives of the Paris Agreement. This has enabled the FinTech to improve the scoring of its investment portfolio. ” NOTWe have improved our selection. Initially, our portfolios were aligned with an estimated global warming trajectory of 2°C, today we have lowered it to 1.6°C” , he rejoices. And Goodvest intends to go even further, by adding the impact on biodiversity as a criterion and by adding an impact tab to its site, which will allow its customers to have access to this information.
Co-develop the project with its customers
The transparency promised by Goodvest is also reflected in the management fees. On its site, the FinTech ensures that its solution costs two times less than the savings of an online or traditional bank. Goodvest thus indicates that it does not charge entry, exit or payment fees, nor performance or retrocession fees on the investment vehicles. The startup is remunerated at 0.9% per year on the amount managed. In addition to these costs, there are in particular those of the funds – between 0.15 and 0.40% per year. In total, investing your money in the products offered by Goodvest costs between 1.65% and 1.90% per year.
In a few months, Goodvest has already convinced a thousand French men and women to entrust it with part of their savings. ” Our main acquisition channel is word of mouth. Our community is fully involved in building Goodvest” , says the CEO. Beyond solicitations for the development of new products, they even want to take part in the capital of the company. Facing a ” forte demand from customers and prospects » the startup decided to launch a crowdequity campaign following its fundraising. ” LParticipants will benefit from the same investment conditions as historical investors: same valuation, same type of shares offered. » The starting ticket will start at 10 euros, to be accessible to as many people as possible.