Social impact IFISA providers hit £100m funding milestone

Innovative Finance ISA (IFISA) providers Ethex and Energise Africa have raised more than £100m in social impact investments since launch in 2013, the platforms have revealed.

Ethex said it raised 20 per cent more investment for projects last year compared with 2019 last year, despite the pandemic.

Investors can fund renewable energy, transport, affordable housing and sustainable food production projects through the providers.

Ethex offers projects with returns targeting five per cent and investors can earn up to six per cent with Energise Africa’s IFISA.

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The Energise Africa platform is a joint project between Ethex and social impact investor Lendahand.

Projects can be funded with a deposit starting at £50 and more than 200 have been backed so far.

“We are absolutely delighted to reach this fantastic milestone – in only a few short years,” Lisa Ashford, chief executive of Ethex, said.

“Here at Ethex we are really excited about the potential that we have as a platform to continue to mobilise significant amounts of money to fuel change – putting money into people, communities and the planet to help society to build back better from the coronavirus crisis.”

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