impak Finance raises largest single-day amount for Canadian equity-crowdfunding initiative

Goal to create Canada's first responsible bank dedicated to impact economy hits important milestone

MONTREAL, Oct. 13, 2016 /CNW Telbec/ - Twenty-four hours after launching the first equity-crowdfunding campaign of its kind in Canada, impak Finance has raised 85% of its minimal investment target by receiving pledges totalling $425,000 in support of the creation of the first responsible bank in Canada 100% dedicated to the impact economy.

This milestone sends a strong message that a popular movement is afoot that will have an important ripple effect in introducing Canadians to a fresh approach to banking. The window of opportunity is open for all Canadians to become active participants in this collaborative financial ecosystem.

Highlights

  • impak Finance's mission is to democratize impact investing and early results show the project has attracted a large number of first-time investors;
  • impak Finance wants to make the process as inclusive and accessible as possible, giving people the opportunity to buy 100 shares for $100;

"We're thrilled to see that our project has resonated with so many people and it confirms that Canadians are seeking a different banking experience, one where financial return meets social purpose," said Paul Allard, President and Chief Ecosystem Officer of impak Finance.

"We're excited to bring impak Finance, a truly revolutionary company, to our platform," says FrontFundr CEO Peter-Paul Van Hoeken, "impak Finance's capital raise marks another milestone in the emerging equity crowdfunding market in Canada. Any Canadian can now invest and become a co-owner in impak Finance, a new Canadian company, right from its inception".

About impak Finance Inc.
impak Finance Inc., the collaborative financial ecosystem for a better world ™, was founded by a group of Canadian entrepreneurs, bankers, financiers wanting to positively contribute in meeting some of the greatest social and environmental issues of our time.

Its mission is to connect savers and investors who want to change the world for the better with entrepreneurs and sustainable companies doing just that.

impak Finance is developing a digital collaborative financial ecosystem, locally rooted, transparent, 100% dedicated to the Impact economy in which impak Bank will be the catalyst.

www.impakfinance.com

About Frontfundr

FrontFundr is a fintech company that enables entrepreneurs to raise capital from all Canadians. Investing in private companies has been limited to angel investors and venture capitalists, but after recent rule changes, private investing is now open to a wider spectrum of investors. Canadians can now invest online through equity crowdfunding platform FrontFundr alongside seasoned investors, while directly contributing to innovation and sharing in the growth of companies they believe in. FrontFundr operates its online investment platform as a fully registered dealer firm (Exempt Market Dealer) in eight provinces in Canada.

 

SOURCE impak Finance

For further information: Mary Zajac, Argyle Public Relationships, mzajac@argylepr.com, 416.968.7311 ext. 260

RELATED LINKS
www.impakfinance.com

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890