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Overfunding
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Convertible round
Rather than investing and immediately receiving shares, in this round payments will be transferred directly to the company and shares issued at a future date. A convertible allows a company to raise funds without having to agree a valuation. For more information please view our FAQs.
Mitto is driven to build a community of activists who want to spend their money more responsibly, contributing to a more sustainable planet. With 185,000+ users signed up in less than 12 months & €1.8M invested, Mitto’s app & card connects users with ethical brands & shows them their spending impact.
- Over 185,000 users already signed up in less than 12 months
- €1.8M invested to date from Athos and other investors
- Plans to launch in the UK and rest of Europe in 2021
- Sustainability-marketed products growing 5.6x faster than any other
Prior to the Crowdcube campaign the company signed a convertible loan for €500,000 on the same terms and conditions as those offered to Crowdcube investors. For the avoidance of doubt, these funds have been reflected in the progress bar, of this amount €213,756 has been spent.
Idea
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We believe climate change is the biggest problem we are facing as humanity and our consumption habits are one of the biggest drivers of this global emergency. In 2019, in 94 of the world’s biggest cities, where a combined 700m people live, the consumption of goods and services including food, clothing, aviation, electronics, construction and vehicles was responsible for 10% of global greenhouse gases. Mitto was founded to address this issue directly by building a community of activists, empowered to consume more responsibly and understand the impact of every purchase they make. Our solution is a sophisticated app, connected to a payment card that integrates seamlessly with your existing bank account.
• Users can immediately see an approximation of the CO2 impact of their purchase
• Users are shown sustainable alternatives from partner brands that fit with Mitto’s mission
• Users can then get instant cashback and other discounts when they purchase from Mitto’s partner brands
In recent years, sustainability-marketed products grew 5.6x faster than conventionally marketed products and were responsible for 50% of the growth of consumer packaged goods between 2013 - 2018. Mitto's model encourages free users to upgrade to a premium monthly subscription that gives them additional insights into their spending and extra rewards. Join us on our mission and let's build a better world together.
