Goodvest expands its catalog to life insurance for children

The result of a year of research, Goodvest launched its savings offer to the public in September 2021 with a life insurance product. One thousand customers and 10 million euros in savings under management later the startup announces that it has completed a financing round of 2 million euros with Super Capital VC, Globivest but also entrepreneurs such as Benjamin Gaignault (Ornikar), Julien Callede (Made.com) and Dimitri Faber (Tiller).

This capital increase should enable the start-up to accelerate its implementation throughout France and offer new products. It plans to launch an application as well as an offer for children. With the latter, the company responds to a request from its customers who wanted to be able to create life insurance policies for their children in their own name and not make them pure beneficiaries. These numerous projects will require the recruitment of around fifteen people, who will also be tasked with increasing the company’s reputation. These recruitments will double the current start-up workforce, which has about fifteen employees.

Adjust investments to the Paris Agreement

Goodvest has chosen to tackle a product that is often poorly understood, perceived as restrictive and complex: life insurance. Leaving the aging version of traditional banking, FinTech has decided to reshuffle the cards to provide transparency and guarantees to its customers. The money thus invested by customers is only used to finance companies whose development strategy is in line with a global warming trajectory estimated at 2 ° C.

Between the ages of 18 and 89, Goodvest savers gather around the desire to fund projects that make sense and to take advantage of transparency in their savings. Customers have clearly asked us not to stop at one label. It is true that today many SRI-labeled funds continue to fund fossil fuels. ” begins the CEO. Goodvest has therefore sought to stand out by showing its credentials.

DOES NOTWe quickly realized that management companies all used different data ” , which were therefore difficult to process and analyze, explains Joseph Choueifaty. Hence the partnership with Carbone4, which is responsible for analyzing the CO2 footprint and the adequacy of the companies’ trajectory in relation to the goals of the Paris Agreement. This has enabled FinTech to improve the scoring of its investment portfolio. DOES NOTWe have improved our selection. Initially, our portfolios were aligned with an estimated global warming path of 2 ° C, today we have lowered it to 1.6 ° C. “ , he rejoices. And Goodvest intends to go even further by adding the impact on biodiversity as a criterion and by adding an impact tab to its site that will give its customers access to this information.

Develop the project together with its customers

The transparency promised by Goodvest is also reflected in the administration fees. On its website, FinTech ensures that its solution costs twice as much as the savings of an online or traditional bank. Goodvest thus states that it does not charge entrance, exit or payment fees, nor performance or retrocession fees on the investment vehicles. The start-up is remunerated at 0.9% per annum of the amount administered. In addition to these costs, there are especially the costs of the funds – between 0.15 and 0.40% per year. In total, it costs between 1.65% and 1.90% per year to invest your money in the products that Goodvest offers.

In just a few months, Goodvest has already convinced thousands of French men and women to entrust it with a portion of their savings. Our most important acquisition channel is word of mouth. Our community is fully involved in building Goodvest ” , says the CEO. In addition to calls for new product development, they even want to take part in the company’s capital. Facing one fdemand from customers and leads » the startup decided to launch a crowdequity campaign after their fundraising. LParticipants will benefit from the same investment conditions as historical investors: same valuation, same type of shares offered. » The starting ticket starts at 10 euros, to be available to as many people as possible.

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