OnlyOne, the first French green fintech, obtains an investment commitment of 35 million euros from Global Emerging Markets (GEM)

GGY will provide OnlyOne with a share subscription facility of up to €35 million for a period of 36 months following a public listing, which will allow OnlyOne to raise funds by issuing shares to GEM. OnlyOne will control the timing and amount of such withdrawals and has no minimum withdrawal requirements.

OnlyOne will use this facility to further exploit the potential of the global neobank market, which is expected to grow to more than $2 trillion over the next eight years.

“We are delighted by GEM’s recognition of OnlyOne’s strong potential. This commitment by GEM paves the way for new perspectives for our short-term financing and to become a full-service bank in the years to come.” – Kamel Nait Outaleb, co-founder and president of Only One

Kamel has more than 20 years of experience in retail banking, having held various positions, particularly in regulation and compliance, for major French and international banks. With OnlyOne, Kamel has created a mobile one stop shop for consumer financial services with its own technology for tangible actions that help protect the planet. From food and clothing to energy and transportation, OnlyOne estimates the carbon footprint of every card transaction, helping users understand their individual impact on the planet. OnlyOne also helps its users take action to reduce their impact thanks to an exclusive eco-coach.

60% of French people think that climate change requires an urgent response and are ready to change their consumption habits. Two-thirds of bank customers in France refuse to have their savings financed by fossil fuels, and this is a global trend. For example, according to Deloitte, 61% of bank customers in the UK said they wanted their bank to “do more to create a positive, social and environmental impact”.
Furthermore, 71% would be more inclined to choose a bank with a positive environmental and social impact.

About OnlyOne
OnlyOne is a cutting-edge impact fintech that offers a complete environment to manage both your budget and your impact.
OnlyOne’s eco-account allows customers to control their money and its impact by managing savings and expenses:
– In addition to day-to-day account management, OnlyOne performs in-depth analysis of your shopping habits and helps reduce your impact through carbon footprint assessment and an eco-coach.
– Clients have access to a marketplace of financial and insurance products selected for their positive social and ecological impact.
– In collaboration with the French Ministry of Ecological Transition and the UNITLIFE fund of the United Nations, the OnlyOne user community participates in the financing of projects with a positive impact.
https://onlyonecard.eu/

ON THE GEM
Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group with offices in Paris, New York and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 560 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. The family of funds and investment vehicles provides GEM and its partners with exposure to the following markets: executive buyouts of small and medium-sized companies, private equity investments and certain venture investments.
www.gemny.com

ON THE GULF OF THE UNICORN
OnlyOne was advised by Licorne Gulf, a fundraising consultancy based in Bahrain, Saudi Arabia, London and Geneva, founded by Alexandre Katrangi and Irina Duisimbekova. The firm has 25 years of international experience in fundraising, mergers and acquisitions, development and consulting for SMEs, Fortune 500 companies and family businesses. Unicorn Gulf is a partner of Only One.

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