CNote, a women-founded and led financial technology platform that makes it easy to invest in economic inclusion, has closed a $3 million dollar oversubscribed private funding round to extend its reach in the fast-growing socially responsible investing space. The funding round was led by ManchesterStory, with additional investments from Artemis Fund, SixThirty Ventures, H/L Ventures, Clearstone Capital, and Lateral Capital.
Since 2016, CNote has been developing technology to unlock access to investments in racial equity, economic justice and gender equity and help close the wealth gap in underserved communities across America.
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“This investment is particularly timely, as CNote works to match growing investor demand for impact investments with increased capital needs from our community partners,” said CNote CEO Catherine Berman. “Our partners, community development financial institutions (CDFIs), are leading the economic response and recovery efforts for underserved communities impacted by the pandemic, and our technology can help speed the flow of capital into these communities to support a faster recovery.”
CNote empowers investors to directly align their values with their investments through innovative cash and fixed income offerings. CNote’s community partners benefit through access to new sources of capital that are often more flexible and mission-aligned.
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CNote is building a suite of tools to make community investing seamless. CNote’s diligence and underwriting technologies reduce the time to onboard community investments while maintaining stringent underwriting standards and risk controls.
“Historically, there’s been no easy way to quickly source community investments addressing a specific cause like gender equity, and the underwriting process and time to investment has been lengthy,” Berman added, “Today, investors can source, deploy and service community investments through CNote’s platform in a matter of days or weeks, not months, and this funding round allows us to continue reducing the barriers to investing in communities across America.”
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