What we do
Public consultation on the EIB Group's Environmental and Social Sustainability Framework - informational webinars
Public consultation on the EIB Group's Environmental and Social Sustainability Framework
The EIF in 2020
Coronavirus: The EIB Group’s initiatives to address its economic consequences
Pan-European Guarantee Fund – EGF
Sustainable Development Umbrella Fund
SDUF Health Compartment
Equity products
AI Co-Investment Facility
Climate & Infrastructure Funds
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
VentureEU
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Croatian Growth Investment Programme (CROGIP)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
The Cyprus Entrepreneurship Fund (CYPEF)
Cyprus Equity Fund
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
EstFund
FOSTER TPE-PME Occitanie
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece
Irish Innovation Seed Fund (IISF)

Tomorrow: starting today

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“At Tomorrow, not a single cent goes into armaments, coal-fired power or genetic engineering,” says Michael. “We only finance sustainable projects. Every time you use your Tomorrow card, you're also making an active contribution to climate protection. This is how we create a better tomorrow, day after day,” explains Michael Schweikart, co-founder of Tomorrow.

Tomorrow was founded in 2017 in Hamburg. “At the beginning, we were thinking about the impact that money has and we felt that it’s moving the world in the wrong direction. For example, you would have thought things have changed, but since 2016, banks have invested USD 2.7tn into fossil fuels. We wanted to make it easier to create positive impact with your finances,” says Michael.

Michael and his co-founders set up a sustainable banking platform, partnering with Solaris Bank, offering a current account with an impact. The Tomorrow community’s deposits are invested in green bonds, which in turn invest in things like, renewable energy, renaturation, bike lanes, and microcredits to fund vulnerable entrepreneurs in the global south. “If you invest sustainably, say in water or energy, it’s not the case that you are making less profit.”

Tomorrow engages in a full impact investing process, starting with research, vetting criteria, making sure exclusion criteria are respected, checking reporting, transparency, and if UNSDGs are promoted. The company also allows users to monitor investments from their smartphone, including push notifications for every transaction, and insight at any time into the impact made by the Tomorrow community.

Bringing sustainability, transparency and technology together, in 2019, Tomorrow received an equity investment from ETF Partners, a venture capital firm backed by the EIF under the EU’s Investment Plan for Europe. This has helped the company boost product development and the sales and marketing teams as they look to internationalise. “For the moment, we’re active mainly in Germany, but we’re are looking to expand to other Western European countries soon,” says Michael.

“We need change on all levels if we want to succeed. Politics need to change direction, to get big capital flowing in the right direction. Behavioural change on the consumer side is also very powerful and often underestimated. Voting with your spending can definitely help bring about change. Similarly, our behavioural traits: do we really need a 5th pair of jeans? Overall, I’m optimistic. We believe a lot in innovation and things are moving rapidly. Politicians are also becoming more aware that they need to act. There’s still conservative forces pushing, but sustainable powers are growing stronger everywhere,” explains Michael.

Company: Tomorrow (Germany)

Type of business: environment; fintech; ICT

Financial intermediary: ETF Partners 

EIF financing: RCR mandate and own resources, EFSI sub-window 1

For further information about EIF intermediaries in Germany, please refer to: http://www.eif.org/what_we_do/where/de/index.htm

 

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