Timelio, a Melbourne based fintech, has secured ethical funding in collaboration with investment manager, Carnbrea & Co. The investment will be used to directly fund Australian businesses through Timelio’s online platform.
Carnbrea & Co manage the Global Ethical Income Fund following environmental, social and governance (ESG) investing principles on behalf of superannuation investors. CEO and Timelio co-founder, Charlotte Petris, said this is confirmation investors are seeking ethical investment opportunities to diversify their existing portfolio of traditional and alternative investments.
“We have established an innovative new investment product, the Timelio Global Ethical Income Fund, aimed at serving the growing population of socially conscious investors,” Ms Petris said. “Our product is uniquely positioned to satisfy the conditions of ESG while providing sustainable, long term returns”.
“We are very excited to work with Carnbrea & Co, they are a great partner that aligns with our philosophy and purpose and supports the growth in our marketplace. We have historically grown exponentially, seeing demand for funding in our marketplace grow at more than 200% last year with over $300 million of invoices funded since launch. Our funding volumes and the size of invoices is higher than ever before. The additional investment will help us to fund larger transactions and support more businesses,” said Ms Petris.
Head of Investors and Timelio co-founder, Andrew Petris, predicts major growth in socially responsible investing and funds following ESG investing principles over the next five years. “The sector is still relatively new in Australia with limited opportunities available for investors. The identification of this gap by Timelio and Carnbrea & Co and the launch of the fund is timely, supporting a new and more diverse generation of investors.”
“The Carnbrea & Co investment aligns with our multi-funder strategy to include institutional investors and superfunds. This enables us to provide the most flexibility in the funding we offer to businesses, further differentiating ourselves from traditional financiers. The new funding sits alongside the Timelio Capital Fund launched in March 2017 which has seen annualised net returns of 7.8% since launch.”
“We believe that the Timelio Global Ethical Income Fund is a first of its nature globally, using ethical investment funds to invest in our invoice finance marketplace,” said Mr Petris.
• Timelio’s online marketplace for invoice finance, brings together growing businesses directly with a network of investors who compete to fund their invoices.
• Timelio launched in April 2015 founded by husband and wife team Charlotte and Andrew Petris
• Timelio allows businesses to access the cash tied up in outstanding invoices, without waiting 30-90 plus days for payment.
• The Timelio Capital Fund is a Managed Investment Scheme open to wholesale investors and invests into discounted invoices.
• $5.5 million of equity funding has been raised from prominent family offices, including Alex Waislitz’s Thorney Investments and Anthony Thomson, founder of Atom and Metro Bank.
About Carnbrea & Co
• Founded in 1968, Carnbrea & Co is a specialist asset manager and wealth advisory boutique, serving the wealth management needs of high net worth families, individuals and charitable organisations.