October 30, 2013 - Greengage Mobile today announced that the RBC Generator, the impact investing arm of RBC’s Social Finance initiative, has invested $250,000 in their mobile engagement platform. The platform enables and rewards healthy living and environmental and community actions.
Today’s announcement is part of RBC’s multi-million dollar social finance initiative, designed to help drive social and environmental change through private investment activity. This commitment includes the $10 million RBC Generator – a pool of RBC capital designed to finance enterprises addressing social and environmental challenges – a $10 million investment of RBC Foundation assets into socially responsible investment funds, and the development of strategic partnerships to catalyze the growth of social finance in Canada.
Toronto-based Greengage Mobile is a software start-up company that focuses on enabling and rewarding positive health, green and community behaviours through its mobile platform. App users are recognized immediately for taking positive health actions, being green, or contributing to their community through a rewards system. RBC’s investment will be used to grow the company and enhance the mobile app and web-based management platform. Greengage is the first sustainability engagement system that focuses directly on the mobile market.
The RBC Social Finance initiative builds on the company’s strong and longstanding reputation for leadership and innovation in finance, business, corporate citizenship and public policy. One of Canada’s leading corporate citizens, RBC contributed more than $95-million to charitable causes worldwide in 2012. For more information, visit www.rbc.com/socialfinance.