Tomorrow

Tomorrow GmbH operates as a digital banking provider with a core focus on sustainability, founded in Hamburg, Germany, in 2018 by Inas Nureldin, Jakob Berndt, and Michael Schweikart. The genesis of the company, initially named Goodfolio GmbH, stemmed from Nureldin's question about what conventional banks do with customer funds, leading to the idea of leveraging money for positive social and environmental change. The founders brought diverse and relevant experience to the venture; Nureldin had previously founded a company to bring transparency to food supply chains, Berndt was a successful social entrepreneur with Lemonaid Beverages, and Schweikart had a background in finance and building a job platform for refugees.

The company's business model is centered around offering sustainable banking services to individuals. It operates on a "Banking-as-a-Service" platform in cooperation with Solaris SE, which provides the necessary banking license. Revenue is primarily generated through a tiered subscription model for its current accounts, with options like "Now," "Change," and the premium "Zero" account. Since October 2024, the "Now" account has operated on a "Pay What You Want" basis, starting from zero euros, to make sustainable banking more accessible. Additional income is generated from interchange fees on card transactions and through its investment product, the Tomorrow Better Future Stocks fund, which was launched in 2022. Customer deposits are explicitly not invested in harmful industries like armaments or coal power; instead, they are directed towards sustainable projects such as renewable energy and social housing. A portion of the interchange fees is also dedicated to climate protection projects.

Tomorrow provides a user-friendly mobile banking app that includes features for financial management, such as a monthly overview of spending, sub-accounts called "Pockets" for saving, and automated savings options. A key differentiator is its transparent reporting on the impact of customer funds, showing in real-time how money is being used for sustainable projects. The company offers a Visa debit card, including a distinctive wooden card made from cherry wood for its premium members. Through its services, customers contribute to ecosystem restoration and climate justice projects. Having served over 120,000 customers, the company achieved monthly profitability for the first time in June 2024. The company has successfully raised significant capital through multiple funding rounds, including substantial crowd-investing campaigns, making it one of Europe's largest crowd-backed companies.

Keywords: digital banking, sustainable finance, fintech, social entrepreneurship, mobile banking, impact investing, green banking, ethical banking, B Corp, sustainable current account, neobank, Banking-as-a-Service, Solaris SE, Inas Nureldin, Jakob Berndt, Michael Schweikart, climate action, financial services, Hamburg, Germany, subscription model, impact reporting