New funding for tech to reduce carbon footprint

A company using cutting edge technology to help people make choices that reduce air pollution and improve health & wellbeing has received further funding via The FSE Group.

Surrey-based BetterPoints has secured £150,000 from the Enterprise M3 Funding Escalator to support the launch of its Carbon Crush product. The loan will help fund marketing, product development and the creation of a number of new jobs within the business.

BetterPoints is currently working with a range of organisations, including local authorities, large corporates, NHS trusts and higher education providers, to operate web portal and smartphone facilitated bespoke schemes that drive positive behaviour change within their communities.

BetterPoints technology uses sophisticated gamification techniques and AI to engage and motivate users to make sustainable changes to their behaviour. With its rollout across large organisations proving so successful, BetterPoints is now developing Carbon Crush, a one-size-fits-all offering that will help smaller companies drive this positive behaviour change within their business.

Richard Kirk, BetterPoints CEO, said: “With Carbon Crush we can support the many small companies that want to drive positive behavioural change within their business. While we are investing so much in our research and development activity, BetterPoints doesn’t fit the lending criteria for traditional banks so we are thankful that FSE is prepared to continue to invest in us during this next phase of growth.”

Brett Chowns, investment manager at The FSE Group, which manages the Enterprise M3 Funding Escalator on behalf of Enterprise M3 Local Enterprise Partnership (LEP), added: “Since its first investment via FSE in 2018, BetterPoints has grown significantly and now has 85 commercial partners and over 170,000 registered users.

“Carbon Crush will help Richard and the team achieve maximum environmental and social impact and we are delighted to be supporting this innovative business that has climate change and social responsibility at its core.”

Sue Littlemore, joint managing director at the Enterprise M3 LEP said: “We are delighted to see the EM3 Funding Escalator doing exactly what it was set up to do and filling a gap left by other lenders to provide funding for innovative companies such as BetterPoints.

“By promoting active and sustainable transport and reducing single occupancy car journeys, Carbon Crush is perfectly aligned to EM3’s Low Carbon, High Growth strategic vision for our economy.”

The Enterprise M3 Funding Escalator is a £10m initiative funded by Enterprise M3 LEP. The escalator includes an expansion loan scheme, a short-term trade loan scheme and an equity growth fund, and provides eligible companies with loans and equity funding between £50,000 and £500,000 for activities that will deliver high-growth and employment opportunities across the EM3 area.

By Mark Adair – Correspondent, Bdaily

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