# CNote Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cnote-group

- Industry: Financial Services
- Headquarters: Oakland, US
- Website: www.mycnote.com
- Total disclosed funding: $12M
- Latest round: Series A (Aug 31, 2022)
- Investors on record: 18

## About

CNote Group, Inc. specializes in impact investing solutions that connect investors with financial institutions focused on community development, delivering competitive returns while fostering economic growth in underserved areas.Founded in 2016 and headquartered in Oakland, US, CNote Group, Inc. provides financial services that align investor values with community needs. The company has secured a total of USD 20.00 mn through multiple funding rounds, with the latest round occurring in October 2022, receiving investment from Merck KGaA. CEO Catherine Berman leads the firm, which has completed seven deals to date.CNote primarily offers impact investing solutions that connect institutional and individual investors with mission-driven financial institutions, including Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), and other community-focused banks and credit unions. The core products include insured cash management solutions and fixed-income offerings, designed to provide competitive returns while supporting initiatives in affordable housing, small business growth, and disaster recovery within underserved communities. By leveraging its platform, CNote enables clients to invest their capital in a manner that aligns with their values, ultimately driving economic and social benefits. The company serves a diverse client base, including both individual investors and corporations, across various geographical markets in the United States, focusing on areas that require financial support and community development.CNote's revenue model is derived from the management of investments in its flagship products, including the Impact Cash® and other fixed-income offerings. The revenue structure is built around transactions involving cash deposits and investments made by clients, which are then allocated to support community-driven projects. Clients, such as corporations and individual investors, typically engage in direct transactions where they place their funds into CNote's financial products, receiving competitive returns in exchange. The nature of these transactions emphasizes B2B relationships, as CNote partners with a network of over 2,500 mission-driven financial institutions to create meaningful impact while providing a financial return. Pricing details for specific products reflect the unique value proposition of supporting underserved communities, thereby fostering both social and economic development.In October 2022, CNote Group, Inc. raised USD 20.00 mn in venture funding from new investor Merck KGaA. The company plans to utilize this funding to support underrepresented communities in the US by providing capital to minority-owned and women-led small businesses. Future growth strategies include the potential launch of new financial products aimed at enhancing community investment opportunities and expanding operations into additional markets within the US by 2024.

## Funding rounds

- Series A, Aug 31, 2022, $7.3M — Golden Seeds, Commerce Ventures, Astia Angels, Lateral Frontiers, ManchesterStory, H/L Ventures, The Artemis Fund, Oxonian Ventures, Rebalance Capital, American Family Insurance Institute for Corporate and Social Impact, BankTech Ventures, BLD Ventures
- Seed, Aug 25, 2020, $3M — Rebalance Capital
- Angel, Dec 31, 2017, $1.6M — Band of Angels, Astia Angels, 37 Angels, Golden Angels Investors, Pipeline Angels, InvestHER Ventures, One World Impact Investments, Oxonian Ventures

## Investors

- Band of Angels (https://capitalatlas.ai/funds/band-of-angels) — Angel
- Astia Angels (https://capitalatlas.ai/funds/astia-angels) — Angel, Series A
- 37 Angels — Angel
- Golden Angels Investors (https://capitalatlas.ai/funds/golden-angels-investors) — Angel
- Pipeline Angels (https://capitalatlas.ai/funds/pipeline-angels) — Angel
- InvestHER Ventures (https://capitalatlas.ai/funds/investher-ventures) — Angel
- One World Impact Investments — Angel
- Oxonian Ventures (https://capitalatlas.ai/funds/oxonian-ventures) — Angel, Series A
- Rebalance Capital (https://capitalatlas.ai/funds/rebalance-capital) — Seed, Series A
- Golden Seeds (https://capitalatlas.ai/funds/golden-seeds) — Series A
- Commerce Ventures (https://capitalatlas.ai/funds/commerce-ventures) — Series A
- Lateral Frontiers (https://capitalatlas.ai/funds/lateral-frontiers) — Series A
- ManchesterStory (https://capitalatlas.ai/funds/manchesterstory) — Series A
- H/L Ventures (https://capitalatlas.ai/funds/h-l-ventures) — Series A
- The Artemis Fund (https://capitalatlas.ai/funds/the-artemis-fund) — Series A
- American Family Insurance Institute for Corporate and Social Impact (https://capitalatlas.ai/funds/american-family-insurance-institute-for-corporate-and-social) — Series A
- BankTech Ventures (https://capitalatlas.ai/funds/banktech-ventures) — Series A
- BLD Ventures — Series A