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Investing in Our Communities
Citi and the Citi Foundation are working in new ways to help build equitable and resilient communities
Citi Impact Fund
Through our $200 million Impact Investment Fund we are using our own capital to make equity investments in "double bottom line" U.S.-based private sector companies that are applying innovative solutions to help address some of society's most pressing challenges.
Investments, which could be as high as $10 million, will primarily be made in companies that have demonstrated proof of concept, built an existing customer base, secured prior rounds of funding and exhibited the potential for scale in multiple markets. A portion of the fund is designated for earlier stage seed investments. We are actively seeking opportunities to invest in businesses that are led or owned by women and minority entrepreneurs to help combat the gender and ethnic gap that exists in the startup world. As part of this commitment, all early stage seed investments will be allocated exclusively to businesses that are led or owned by women and minorities.
We will continue to update this page as we invest in additional companies through the Citi Impact Fund.
Clerkie is a Black-founded AI company based in San Francisco. Their proprietary financial automation platform streamlines the relationship between creditors and their consumers, and it is purpose-built to help over 100 million Americans ease their debt burden. After years of product testing and validation, Clerkie has helped thousands of borrowers get out of debt and build credit by negotiating up to 70% off users’ debt. It has quickly grown to become a go-to tool for creditors to manage their loan losses and the financial platform combines expert financial advice with one-click automation that makes it easy for users to take action.
Fulcrum BioEnergy converts municipal solid waste into low-carbon, renewable transportation fuels, including jet fuel and diesel, via waste processing and refining facilities. The company is diverting large volumes of waste from local landfills, many of which are overtaxed or at capacity, and reducing greenhouse gas emissions by more than 100 percent. Fulcrum’s products are certified as “below zero carbon” by the California Low-Carbon Fuel Standard (LCFS) given both avoided landfill methane and low carbon transportation fuel profile.
ICON is an Austin-based company developing technologies that advance humanity. Using proprietary 3D printing robotics, software and advanced materials, ICON is shifting the paradigm of homebuilding on Earth and beyond. The company recently received Fast Company’s 2020 World Changing Ideas Award for building a 3D printer that has 3D printed resilient, dignified homes in Mexico and the U.S.
KETOS addresses a number of the world’s water challenges with the goal of preserving this quintessential resource for years to come. The company delivers a vertically integrated platform—an intersection of robotics, data science and IoT for the world of water. This enables operators to proactively solve mission-critical efficiency and quality challenges in real-time and ensure that water used in municipal, agriculture and industrial applications meet specific compliance and sustainability standards. Founded in 2015, KETOS works tirelessly to transform the water industry with the goal of making water safe, consistent and sustainable for today and for future generations.
MedHaul, a Black and female-founded company based in Memphis, operates an end-to-end platform that helps healthcare providers (e.g., hospitals, physician groups) find and book safe, skilled and personalized non-emergency medical transportation (NEMT) for people with special needs. Every year, nearly 4 million Americans with chronic conditions miss their medical appointments due to transportation issues. Particularly for low-income and/or older patients with diabetes, asthma and arthritis, this can mean the difference between managing chronic conditions at home and ending up in the emergency room. The cost of missed appointments and ambulance abuse costs the healthcare system about $200 billion per year. MedHaul provides a cloud-based, mobile-optimized marketplace that automates the transit management process and links healthcare providers with specialized transportation services.
MoCaFi is a Black-owned fintech offering mobile banking, credit building and wealth empowerment tools to underserved communities. Our innovative banking platform addresses communities challenged by limited economic mobility and financial equity. Throughout the pandemic, MoCaFi has assisted individuals, families and businesses in need through partnerships with organizations and cities providing direct services. MoCaFi’s technology solutions target financially underserved consumers in the U.S. who spend billions of dollars in fees and interest on alternative financial services. MoCaFi’s financial products save users time, stress and unnecessary transaction fees while delivering essential banking services at a low cost.
The Mom Project is a female-founded and -led job marketplace based in Chicago that connects women to companies that are committed to designing and supporting a better workplace. For women using the platform, The Mom Project provides job opportunities and a community with guidance and insights into various aspects of integrating motherhood and work. For companies, The Mom Project not only provides access to an experienced talent pool of more than 300,000 women, but helps build the infrastructure needed to recruit, retain, and promote women. This includes an analytics platform called WerkLabs that evaluates flexible/remote work arrangements and provides resources on best-in-class practices, policies, and processes for supporting women in the workplace.
PadSplit, headquartered in Atlanta, is a mission-driven marketplace that provides lower income workers with safe, clean and affordable housing. Founded by an affordable housing advocate, PadSplit incentivizes more affordable housing creation by monetizing underutilized rooms in single-family homes and increasing profitability for property owners, without requiring public subsidies. Each PadSplit home includes furniture, utilities, wifi, laundry, 24/7 access to telemedicine and credit reporting with its weekly rent payment. By having a lower rent burden, PadSplit residents are able to save more of their income and work toward financial independence.
Perch is a Black-founded Los Angeles-based company designed to empower unbanked and underbanked young adults with tools to properly manage their credit. Perch has designed a platform that helps young adults learn sustainable credit habits and build credit without having to go into debt or increase expenses. Using the Perch platform, users are able to report recurring monthly payments (such as rent payments and subscription services) to U.S. credit bureaus and begin to build a credit profile.
Shift.org, Inc. (“Shift”) is a San Francisco-based and veteran-led career advancement company where current and former members of the U.S. military discover careers, acquire and demonstrate new skills, and embark upon new job experiences at the best companies in the world. Shift’s talent-acquisition services provide corporate partners with a talent pipeline of diverse, non-traditional, experienced and prepared candidates.
Superpedestrian is a transportation robotics firm that develops the technology inside the LINK Scooter, the safest, most reliable lightweight electric vehicle in the world. Based in Cambridge, Massachusetts, Superpedestrian was spun out of the MIT Department of Urban Studies and Planning in 2013 with the mission of developing safe and reliable lightweight electric vehicles (LEVs). Superpedestrian’s first endeavor was to engineer a system to manage micro-vehicle safety and performance. This effort culminated in a patented Vehicle Intelligence System (VIS), a collection of sensors, firmware and onboard diagnostic technology that monitors the mechanical and electrical status of an entire vehicle in real time and autonomously resolves a majority of potential issues. For Superpedestrian and its LINK Scooter service, the results have demonstrated that VIS leads to best-in-class reliability, safety and operational efficiencies.
Vyv (formerly known as “Vital Vio”) is a New York-based and female-founded health tech company that has created a new kind of cleaning protection. Vyv, formerly Vital Vio, offers proprietary continuous-use, non-UV antimicrobial light technology for homes, public places and industry. Unlike hazardous UV light, Vyv meets international standards for continual and unrestricted use around people, animals and plants. Today, Vyv delivers a unique approach to cleaning continuously. Vyv LED light creates environments inhospitable to the growth of bacteria, fungi, yeast, mold and mildew. As overhead lighting, Vyv can be found in food manufacturing and services, healthcare facilities, travel and hospitality, retail, commercial and public buildings and many other places. Vyv technology is also embedded into commercial and consumer products and applications—shower lights that stop mold growth, behind cleaner elevator buttons and in many other diverse and creative ways.
In the News
Citi Launches $150 Million Impact Fund
The Impact Fund will make investments in double bottom-line startups with an emphasis on women and minority entrepreneurs