Lewis and Palmer (t/a Clementine) secures £1 million Seed investment from Fortunis Capital

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Fortunis Capital selects revolutionary femtech Clementine for a place in its Top 20 UK Impact Investment fund, starting with an initial investment of £1m

Fortunis Capital today announced it has awarded revolutionary femtech Clementine a place in its Top 20 UK Impact Investment Fund – kicking off with a major investment in the app aiming to improve the emotional wellbeing of millions of women all over the world. 

The London-based impact investor’s £1million funding will accelerate the growth of Clementine, named one of the seven apps every woman should own. (1).  Founded by Kim Palmer, it provides world-leading virtual professional hypnotherapy sessions as well as a suite of wellness products to empower women to feel more confident, capable and on top of their game. 

Kim said:

“We are thrilled by this investment by a forward-thinking VC in a company founded by women for women. The VC landscape is traditionally challenging for women, so we are really bucking the trend here. Treasury reports show for every £1 of VC investment, all-female founder teams get less than 1p, all-male founder teams get 89p and mixed-gender teams get 10p. 

“We did not have to jump through hoops with a traditional pitch to secure this investment. With a strong female leadership team, Fortunis instinctively understood that we were delivering a solution to a global problem worth solving.” 

Kim hit on the idea of a hypnotherapy app to help women feel calmer and better equipped to cope with everyday life after suffering a series of panic attacks while juggling a high-profile job, pregnancy and social pressures. She discovered the transformative effects of hypnotherapy after turning to it as a last resort when nothing else worked.   Today, 75,000 people use Clementine – 90% of them women. 

The Fortunis funding will drive a major expansion programme offering additional services – including self-help journals, socially-distanced events with transformative results, a wellness cosmetic and body care collaboration with a leading cosmetologist and an audio series hosted by leading broadcasters. 

She added: 

“We have huge growth plans – we are the only mental wellbeing app that really, really understands what women need when it comes to their mental wellbeing. In a space where the leading apps are all lead by men it’s time to shake this up. 

“This is more than an app, this is a movement and, in the middle of a pandemic, addresses a real need. 

“Covid-19 has had a disproportionate effect on the mental wellness of women.  Evidence shows that during this crisis, women suffer more from stress, anxiety and lack of sleep than men.”  Research by KFF shows 57% of mothers of children under 18 say their mental health has worsened during Covid-19 compared to 37% of men. 

Fortunis Capital investment director Emma MacRae said:

“We do not look at anyone’s gender when we make investment decisions, we look at innovation.  As an impact investor, our mission is to support companies that can make a positive difference to society.  We see Clementine offering a solution to a problem worth solving; a solution that will change the lives of women for the better. 

“However, we do recognise that there can be unconscious gender bias in the industry, especially around the pitch process which can be intimidating. Research shows that many investors prefer pitches presented by male entrepreneurs compared with pitches made by female entrepreneurs, even when the content of the pitch is the same.  

“And it is a fact that in a competitive environment, men are more likely to talk up their achievements while women have a more measured pitching style. (2) 

“In Kim, we saw an inspirational businesswoman who has been through difficult personal challenges as a working mother juggling home and career. She has drawn on those experiences to come out stronger and face a real problem head on having discovered the solution. She meets our criteria as an impact investor of addressing a real problem worth solving.” 

Clementine joins the latest additions to Fortunis Capital’s Top 20 Impact Investment Fund. Recent investees include Karma, who aim to eradicate payday loans with interest free advances; Sportside, the connect and play sports app and Stemson, the biotech using stem cell research to find a solution to hair loss. 

Sources:  

  1. The Guardian 
  2. Harvard Business Review 
  3. Further sources: Enders Analysis, Women as entrepreneurs in the UK. Closing the gaps  

“Access to equity finance however remains ‘male, pale and stale’ in the UK, resulting in a vast ‘inclusiveness’ gap among digital enterprises. Most Venture Capital companies lack women on their investment committees. Overcoming this gap requires access to mentors, networks and business angels.  

“The deep recession in the UK’s B2C sectors and the paradigm shift to digital is the business and consumer story of the pandemic in 2020. There remains a fear that these gender gaps in UK entrepreneurship could widen in the recession and the pandemic, alongside existing gender and wage gaps in the employed workforce.” B2B service sectors are more insulated.”   

About Fortunis Capital 

  • Fortunis Capital are Venture Capital Evolved.  
  • A Home Office-endorsing company headquartered in London with a global reach, we believe in achieving positive, tangible benefits for society on a global scale through investing in innovation while delivering exceptional returns for our investors.  
  • We are delivering positive and tangible impact to society and our world by investing in innovation whilst providing positive returns to our investors. Each and every day, our investments are changing the world, improving millions of lives globally. We are enabling society to have a voice, to choose to make positive choices for themselves and the world in which they live.  
  • Our investees include innovators in fintech, sportstech. greentech, bio and medtech and wellness. 
  • Potential Investors and investees can contact Fortunis Capital on: 
    T: +44 (0)208 012 8551 E: [email protected] 

About Kim Palmer and Clementine 

  • Femtech innovator and entrepreneur Kim Palmer is the CEO and founder of the hypnotherapy app Clementine, which aims to improve the emotional wellbeing of women all over the world. Born after Kim experienced a number of panic attacks whilst pregnant, Clementine has been created to make women feel calmer, more confident and better equipped to cope with everyday life. 
  • The hypnotherapy sessions available on the Clementine app can be used to boost confidence or help you return to sleep by guiding you to relaxed state, similar to daydreaming, and suggests new ways to deal with everyday grievances; allowing you to kick back and continue your daily routine. 
  • Kim is listed as one of the top 100 women in Fem Tech & Health Tech and winner of the IPA Campaign Women of Tomorrow in 2018, which recognises female industry leaders of the future. 
  • While working at Wunderman Thompson as a strategy director, Kim also helped some of the world’s biggest brands with their global marketing campaigns and was able to develop her personal resilience and kick-start a women’s mentoring programme.  

For further information contact:.
Allan Rennie, Associate Director, Hollicom. [email protected] 07831 725141

ENDS

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