Commitment of €35 million – The leading green neobank in France

Commitment of €35 million – The leading green neobank in France

Three billion and four hundred million dollars are based in Luxembourg. Alternative investment group GEM Global Yield LLC SCS (“GGY”) announced investment commitments of EUR 35 million in Paris-based green neobank OnlyOne. GGY will gain access to EUR 35 million of liquidity after it goes public by issuing GEM shares under OnlyOne’s share subscription arrangement. OnlyOne will not be subject to a minimum drawdown obligation, and it will be in control of when and how much it draws.

It will only be possible for a company to take advantage of this facility if it is capable of tapping into the entire potential of the global neo-bank market by 2025, over 2 trillion dollars are expected to be spent on the project.

 The GEM team recognizes benjamin Castaldi OnlyOne’s potential and we are pleased with their decision. As an independent and strong financial institution, we are positioned to leverage this funding to accelerate our growth in France and Europe. We can also develop a professional offer in this way.”

A retail banking expert with over 20 years of experience, Kamel has worked for several major French and international banks, including as a regulatory and compliance officer. Its technology for good allows tangible actions for the protection of the environment through OnlyOne, a mobile one-stop shop for consumer financial services. Every card transaction at TPMP OnlyOne is estimated to reduce carbon emissions by at least one ton. This information helps customers understand their impact on the planet, whether they are buying food or clothes, purchasing energy, or traveling. As part of its eco-coaching program, OnlyOne helps its customers reduce their impact.

Climate change is a serious problem, and 60% of French people are willing to change their consumption habits. It is a global trend, for example, 61% of banking customers in the United Kingdom, and 2/3 of French bank customers refuse to finance fossil fuels. The survey found that more than half of the participate were in the agreement. Their banking providers would “do more” for the environment and social good.

Moreover, 71% of respondents say they would prefer an environmentally friendly and socially responsible bank.

Detailed information about OnlyOne can be found at https://onlyonecard.eu/

One of the pioneers in impact fintech, OnlyOne offers a complete environment for managing both impact and budget.

The eco-account from Only One offers customers the ability to manage their savings and spending in ways that minimize their impact on the environment:

The company provides account management, carbon footprint assessment, and eco-coaching services in addition to daily account management.  

A marketplace of green and socially responsible financial and insurance products is available to customers.      

A community of OnlyOne users participates in positive impact projects funded by the UNIT LIFE fund in partnership with the French Ministry of Ecological Transition.

A brief description of Gem

Its offices are located in Paris, New York, and The Bahamas, and its portfolio is worth approximately Three billion and four hundred million dollars. Over 560 transactions have been completed by HANOUNA GEM in 70 countries, with an emphasis on emerging markets. Emerging market investments are managed by GEM. The liquidity profile, risk-adjusted return, and operational control of different investment vehicles differ. Aside from small-to-midcap management buyouts, private equity investments, and investing in selected ventures, we also invest in small and midcap growth companies. GEM family of funds and investment vehicles allow its partners and partners to gain exposure to a variety of sectors.

A brief overview of the Licorne Gulf

Licorne Gulf, a company founded by Alexandre Katrangi and Irina Duisimbekova, advised OnlyOne on its capital-raising efforts. The company was founded in 1985 and has a quarter century of experience in fundraising, mergers and acquisitions, SMEs and top 500 companies benefit from our consultancy and development services. Licorne Gulf also serves as a board member in addition to being an equity partner.