London-based startup Supernova has exploded onto the UK’s fintech scene with plans to illuminate the sustainable investing universe.
The tech company provides AI to enable wealth managers, investors and financial advisors to use data for allocation and compliance when it comes to environmental, social and governance (ESG) matters. Supernova generates personalised ESG-impact reports which users can provide to their clients.
Supernova explains: “Owners want clarity about sustainable investments. But ESG datasets are impenetrable, damaging your customer experience.”
According to the fintech firm, there were $1.7 trillion (£1.25 trillion) in sustainable fund assets in 2020. In addition, 78% of owners have goals related to sustainability and 53% want to engage more directly with sustainable investments.
Like other UK-based startups, Supernova senses that the ESG sector could be a profitable line of work.
Green matters have certainly caught the eye of quite a few entities. New names covered at eWeek UK include Climate X, a London-based firm that provides climate data and analytics; and Edinburgh-based Looper, which offers AI-powered B2B SaaS software to automate building carbon calculation.
Last month, London-based Expect appeared on the scene to offer a decarbonisation management platform for large enterprises and heavy industries. Also in January, data centre solutions provider Celestro popped up with its green-themed launch.
In terms of the bigger picture, there was COP26 in November, where the UK Chancellor talked about the need for “better and more consistent” climate data, sovereign green bonds, mandatory sustainability disclosures, and more.
Supernova will be looking for its own glory and its site offers plenty of details on how it works. There are exportable PDFs, a web app to enable users’ clients to view their portfolio dashboards, and an API to allow Supernova’s data to be embedded into users’ own interfaces.
As Supernova’s name suggests, the tech startup makes reference to its own “universe”. This means it provides info on stocks, ETFs and funds. Names listed on its site include Coinbase, Netflix, Meta, Walt Disney, Robinhood and Tesla.
Along with that, Supernova offers content and insights for “ongoing engagement”. Namely, such things as auto-generated snippets so clients get pre-produced content; and ongoing profiling via surveys.
Frank Tobé is the Founder of Supernova. His experience includes investor roles and being a member of the Family Board at DOB Equity. That company invests in African businesses that “contribute to a more social and sustainable society”.
These are early days in the life of Supernova and it is currently looking for stellar talent – i.e., an AI software engineer.