Investing money and doing good at the same time – there is probably no product promise that is abused as much as this one. Greenwashing is as much a part of the financial industry as installment loans and Bitcoin, and when it comes to their credibility, many banks are knee-deep in the red.
The mobile banking provider Tomorrow, launched in 2019, wants to do everything completely differently. The Hamburg-based startup promises its customers that it will not invest a single cent in coal, oil, or nuclear power, but instead millions in sustainable projects. The invested money is thus intended to be transformed into a driver of positive change. With this promise, the young banking provider has already acquired over 120,000 customers and brought 400 million euros to the green side.
But that is where the problems begin. How do you win over the general public for green investments now? How does sustainable banking get out of the green niche? And how profitable is Tomorrow's brand strategy?
Tomorrow co-founder Jakob Berndt gives us the answers. Jakob was a strategist at Jung von Matt before he co-invented the organic lemonade "Lemonaid" and made it a mega-success. The question is: will he manage such a coup a second time with Tomorrow?