Our Services

Headquartered in London with offices in Rome and Milan, EthicalFin operates through two sister companies, both controlled by Pommes D’Or Family Office:

EthicalFin Limited, a London-based and FCA regulated company that arranges deals, acts as a placement agent (without firm commitments) and advises qualified investors

EthicalFin NPL S.r.l., a Rome-based, non-performing loan debt collection company, regulated pursuant to art. 115 of Royal Decree n. 773 of 18 June 1931 (Testo Unico delle Leggi di Pubblica Sicurezza or T.U.L.P.S.)

We also work with a network of like-minded partners who share our values and mission and complement our skills and expertise, forming our eco-system

Through our services we specifically aim to promote the following UN Sustainable Development Goals:

Corporate finance

Our services are dedicated to visionary, socially motivated and environmentally friendly entrepreneurs; we love partnering with them and complement their team’s skills and expertise with ours in order to promote sustainable growth strategies and assist with the raising of capital from like-minded investors


EthicalFin acts as a partner for its clients to convert their visions into actionable plans and to attract the right investors for long lasting sustainable growth



EthicalFin knows what inverstors are looking for and how to prepare for it, let’s work together to achieve your success. Trust us, no more advice by trial and error!



  • Growth strategy and business plans
    – Support in the fine tuning of corporate strategy and translation into sustainable business plans
    – Preparing financial plans, international expansion, feasibility analysis and business assessments
    – Searching for potential industrial or capital partners to support growth
    – Identify and implement corporate synergies, business development, Non-Executive Directors
  • Capital raising & IPO support
    – Support in preparing IPOs and AIM listing and beauty contest for NOMADs
    – Debt & equity sourcing for clean energy/social impact infrastructure
    – Capital raisings from the “right” investors (venture capital and private equity funds, family offices)
    – Tailor-made real estate vehicles/funds and equity sourcing for high impact real estate projects
    – Define and implement corporate communication and investor relations strategies
  • Mergers & Acquisitions
    – Identifying potential strategic targets by analysing synergies and selecting the best solutions
    – Support in the divestiture of non core assets/subsidiaries
    – Full support in M&A transactions
    – Negotiation of partnerships and joint ventures
  • Debt advisory
  • Corporate and/or debt restructurings, debt optimisation, renegotiation and refinancing
  • Arrange and place corporate bonds
  • Structure securitisation transactions
  • Arrange secured and unsecured lending facilities, credit cycle management
  • Divestiture and/or financing of illiquid credit and non-performing loan portfolios
  • Promote sustainability and assist with preparing sustainability reports
    – Ensure corporate strategy and business plans incorporate long term sustainability
    – Promote corporate social responsibility
    – Support in preparing the sustainability report

NPL / Capital Markets

Non-performing loans

EthicalFin works with banks, special servicers and investors in order to originate, assess, manage and (co-) invest in Italian non-performing loans

Our vision is to build a non-performing debt collection agency that – through the introduction of new technologies and application of ethical behavior – can create a truly sustainable debt collection company

The purpose is to shift the focus from numbers and legal files to people, families. The social impact of unblocking distressed situations and entangled real estate assets can have a significant social and environmental impact:

  • Allowing defaulted borrowers to regain access to the financial sector
  • Regenerating or redeveloping abandoned or run down real estate assets
  • Facilitate the circulation of capital

NPL Services


  • Manage NPL portfolio/illiquid credit professional sale processes
    – Define value-enhancing disposal strategies
    – Sourcing and arranging debt facilities
    – Arrangement of securitisation transactions and placement of publicly or privately placed asset-backed securities and warehouse facilities


  • Asset management for both secured and unsecured NPLs and the underlying real estate assets
  • Debt collection services through both legal procedures and out of court settlement negotiations


  • Scouting of both secured and unsecured NPL portfolios and secured single name investment opportunities
  • Due diligence for the assessment of secured and unsecured NPL
  • Roll up of NPL portfolios to establish value enhancing debt collection strategies

Investment advisory

We work closely with professional investors in their investment strategies as well as support emerging impact investment managers with their fund raising and capital deployment into NPL, real assets and sustainable ventures.

Investment advisory to qualified investors in:

  • Italian NPL
  • Venture capital and private equity in impact investment companies
  • Sustainable real estate and energy assets
  • Set up of investment vehicles
  • Fund raising for/placement of investment funds

Real estate

  • Set up of real estate vehicles/fund structures
  • Capital raising for high impact developments (smart cities, co-housing, co-living)
  • Distressed real estate divestiture
  • Arrange bank debt, project financing, commercial mortgage backed securities

Investing in Happiness

Why we should change the name Impact Investing to Conscious Investing


Impact investing is a rapidly growing area of finance. This is good news. Anything that helps money flow toward positive social and ecological results is to be strongly encouraged. But behind the good news lies a hidden assumption which needs illuminating, if we are to realise the full potential of impact investing at the scale and speed current global challenges require.

The assumption is hidden in plain sight. To call this impact investing, is to imagine or pretend that other forms of investing do not also have social and ecological impacts beyond the purely financial. Clearly this is nonsense. We must recognise that every form of investment, every choice of where to put our money, and every money flow decision creates an impact. And, de facto, if the impact is not consciously benefiting social or ecological outcomes, it is quite likely damaging them.

Business and finance are not neutral:

To call this new, growing development impact investing, is to unwittingly collude with the powerful but unfounded assumption that business and finance are somehow neutral disciplines. That our conventional assumptions about how we earn and grow money are not part of an entrenched value system. This is basically what has been taught in business schools for generations. We are told that business is business, finance is finance and money is money. Ethics is relegated to a peripheral discussion, often an unsophisticated one, to be had another time.

We must recognise that all business, all finance and all investment has impacts. What is starting to grow now is people’s consciousness about these impacts. Impact investors are therefore actually conscious investors. They are increasingly aware of several important dynamics and relationships that have always been present in the money system but usually disregarded. Here are some of them:

Relationship 1: Relationships between different parts of the system:

The money I invest in a company is a sign of support for the way that company treats its employees, local communities and the natural world. Normal business logic has not tended to see it that way – restricting its vision to a narrower range of relationships. But the wider relationships are present in the system nonetheless – whether we acknowledge them or not.

Conscious investing recognises the importance of a company’s effect on stakeholders far and wide, human and non-human[1]. The investor has become more conscious of the reality of these relationships, their inevitability and their importance.

Relationship 2 – Relationship between different points in time:

The money I invest in a company today is both a backing for and determinant of a particular future that awaits my children and future generations. Again this is not a neutral thing. Investing in certain technologies, industries and activities may express support for a polluted and unstable future or a healthy and life sustaining one.

By consciously investing money in businesses who are working toward the sort of world I actually want to see, I am recognising and respecting the relationships between past, present and future. These relationships have always been there, but now my investment choices are consciously acknowledging their reality.

Relationship 3 – Relationship between my money and my life:

The assumption of business as a value neutral, objective force in the world has relied on a historic separation between business and money on the one hand, and our heart and soul on the other. We all have our own words describing this separation. Whatever the words, conventional business logic has tended to assume and demand a separation between the personal and the professional, the heart and the head, the things I care most deeply about, and the things I am told must be done in the ‘real world’. This separation has been largely unconscious, but of course in reality such aspects of life cannot really be separated. There is always a price to pay if we try to separate them.

Conscious investing is beginning to acknowledge this, and therefore has a role in a gradual healing [2] taking place in the world of business and finance. By consciously investing, I am recognising that money is not just a quantity, a number. The quality of my money – where it has come from, and where it is going, who it has affected and how those things resonate with my innermost values, is also important.

Recognising deeper relationships:

These relationships – between different places, different time periods, and different inner and outer aspects of our lives have always been there. They have always been present in the business and finance system, though very often ignored. The historical industrial and financial logic has created and demanded a sense of split. This has been largely unconscious. Most people in business and finance have just assumed that is the way it is, and must be.

Impact investors – let us now call them conscious investors, as well as those working toward positive social and ecological outcomes in business – let us call them conscious business people, are consciously using their money, time and skills to support the flow of life itself. This is vital, important, necessary work to be celebrated. By recognising that de facto all business has impact, and that we must therefore all become conscious and clear about what those impacts are in reality, we can accelerate and celebrate this vitally important shift.

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Representative Office | Via Monte di Pietà 21 - 20121 Milano - ItalyT: +39 347 9861129E:


EthicalFin NPL S.r.l. | Via A. Salandra 18 - 00187 Rome - Italy

T: +39 06 42272015

M: +39 335 1618968