Investment & Fund Management

Tomorrow, a sustainable banking platform founded in 2017 in Hamburg, faced a significant challenge in addressing the negative impact of traditional banking practices on the environment. The founders, including Michael Schweikart, recognized that banks had invested approximately USD 2.7 trillion into fossil fuels since 2016, which contradicted their vision of promoting positive financial impacts. They aimed to create a banking solution that not only avoided harmful investments but actively contributed to sustainability.

To tackle this issue, Tomorrow partnered with Solaris Bank to offer a current account that channels deposits into green bonds. These bonds fund projects in renewable energy, infrastructure for sustainable transport, and microcredits for vulnerable entrepreneurs in the global south. The company implemented a rigorous impact investing process that includes research, vetting criteria, and adherence to exclusion criteria, ensuring transparency and alignment with the United Nations Sustainable Development Goals (UNSDGs). Users can monitor their investments through a smartphone app, receiving real-time notifications about their financial activities and the impact generated by their contributions.

As a result of this tailored approach, Tomorrow secured an equity investment from ETF Partners, a venture capital firm supported by the European Investment Fund (EIF) under the EU’s Investment Plan for Europe. This funding has enabled Tomorrow to enhance its product development and expand its sales and marketing efforts, with plans to grow beyond its initial market in Germany into other Western European countries. The company’s innovative model not only promotes sustainability but also demonstrates that investing in environmentally friendly projects can yield competitive financial returns.