Fintech Platform Ethic Raises $50 Million in Series C Funding
Summary
It follows a strong growth period for the company, which saw record inflows in H1 2022 despite turbulent market conditions and outflows from many environmental, social and governance (ESG) mutual and exchange-traded funds. With this latest round of funding, closed this summer, were excited to continue delivering innovative solutions that bring us closer to our vision of a world in which all investing is sustainable investing.Amid significant consolidation in the sector, Ethic has distinguished itself as an independent provider of direct indexing strategies. Financial intermediaries can also differentiate themselves and forge deeper relationships with their clients using Ethics technology platform to deliver transparent impact reporting, and leveraging its breadth of educational tools surrounding various sustainability issues.We appreciate Ethics thoughtful approach to delivering customized portfolios and a well-designed client experience, said Lauren Booker Allen, Partner at Jordan Park Group. Its scalable technology platform enables the creation of custom direct indexing portfolios that reflect clients values, financial goals, and tax preferences. The company is backed by investors including Oak HC/FT, Nyca Partners, Fidelity Investments, UBS, Jordan Park Group, Sound Ventures, Urban Innovation Fund and Kapor Capital.