Goodments app boosting socially conscious investors’ knowledge, trading

Goodments, an app that allows investors to search out in the companies that match their social and environmental ethics, is launching the first wave of its product line up.

(Source: Goodments)

Goodments, now available at iTunes, has been created to assist individual investors who want to research companies for their social and environmental characteristics, says Tom Culvert, CEO and founder of Goodments.

We’re at the tip of the wave- we’ve really seen this era of sustainable investing and impact investing take up, and it’s been a fascinating journey for us,” Tom says. “We’ve been corralling people, finding investors and coming forward with a purpose, and now that the market has caught up with us, and they’re now saying, we can raise the money, launch product and it’s an exciting time.”

The first product Goodments will launch is a subscription-based research version of the app. The second stage will be a live trading version of the app.

“We will run two subscriptions – the research-only version of the product,” Tom says. “All our data for a global universe of shares, you can run virtual portfolios, and from the consumer perspective, a machine learning automotive system that gives you automated responses based on who you are.”

The app will allow for a predictive element as well.

“You invested in Company A because you liked its environmental impact, so we’re going to let you know what, likewise, there’s a Company B over here is also like company A, you may want to invest in it. You get that constant update of knowledge and awareness plus what’s going on – that’s what there. The reason why we run that subscription is that there’s a whole heap of people who want to continue their bank service, but want access to this service as well. Then there’s the trading version for $15/month, which includes free trades up to certain levels.”

“This will allow customers to buy and sell global shares through our app via the matching software, and all that will be done with a monthly subscription with free trading,” Tom says. “From there, we get into the next stage ,which is essentially a completely new way people can manage a portfolio – superannuation, managed funds, and we’re working with one of the banks on how we can design a portfolio that answers all the questions people have around sustainability and impact, and giving the consumer/investor complete control.”

“The first products will match investors to shares, focusing on big, liquid shares from major stock exchanges,” Tom says.

Tom envisages the Goodments app potentially encompassing private market crowd-funded impact investing, but notes that that is “a much bigger challenge.”

The app launched in late 2017, and Goodments has also closed the seed round to raise funds to build the next stage of the business, Tom says.

“Where we are now is that we’ve closed the seed round, and we’re building our team,” he says. “We’re finalising the launch of our first two key product ranges – the first and fundamental piece that we rely on in the business is simplifying personal investing so that people can easily invest their money to do good and accumulate wealth.”