Tumelo offers APIs and white-label software that show investors which companies their money is invested in and collect investor vote preferences on issues such as CEO pay, board diversity and climate change. The collected vote preferences are sent to fund managers, who hold the power to effect change through voting at company AGMs. Tumelo says its technology strengthens investor loyalty, drives increased AUM and retention, and can help win large workplace pension accounts. The company has established relationships with 17 leading investment platforms and 75 fund managers in the UK. Tumelo describes itself as impact-focused and positions its product for investment platforms, robo-advisors and pension providers. The new funding will be used to build more partnerships and to expand into the US and Australia. Tumelo offers an investment-transparency platform that shows users where their money is invested and provides tools to take action, including shareholder voting, joining campaigns, and switching to ethical fund and pension options. The company was founded by Georgia Stewart while she studied at Cambridge University after a successful university activism campaign to change Cambridge’s £6 billion endowment investments. Tumelo has received support from Addleshaw Goddard’s AG Elevate programme, which provided mentoring and legal guidance during product development. The recent £1 million funding will be used to perfect the platform and expand the team from seven to 12, adding developers and UX specialists. The startup aims to capitalise on growing demand for ethical investment options in the UK, where assets in ethical funds rose from £4.5bn in 2008 to £16.7bn by the end of 2018. Georgia Stewart serves as co-founder and CEO as the company continues its app rollout.

Total raised

$20M

Funding rounds

2

Latest round

Series A

Latest activity

May 2022