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Swedish climate fintech Datia scoops $3.4M to simplify investors’ transition to sustainable finance

Datia-Founders-Juan-Manuel-Serruya-and-Manne-Larsson
Image credits: Datia

Datia, the Stockholm-based climate fintech which streamlines the ESG workflows for investors, enabling a smoother transition to sustainable finance, is today announcing it has received $3.4M in Seed funding. Its service is helping investors to easily understand the impact portfolios have, report their investments to regulatory bodies and perform pre-trade screening.

The platform, since launching in 2020, has grown to onboard an impressive roster of clients which includes Spiltan Fonder, Alcur Fonder and Atlant Fonder, bringing their net AUM to over $100B. Funds alike took interest in the startup’s offering, with the pan-European VC Nauta Capital participating alongside Accel Starter Ramzi Rizk, Zenloop’s co-founder Paul Schwarzenholz, Söderberg & Partners and Sting.

Streamlining the transition to sustainable finance

The Datia data platform is an enabler of sustainable finance, working closely with forward-thinking financial institutions to automate their ESG workflows. The platform performs sustainability calculations on companies and funds, making use of hundreds of data points such as carbon footprint, gender pay gap and energy usage. By working with asset managers, wealth advisors and investment platforms, Datia allows for the measuring of the impact of portfolios also assisting in regulatory reporting, and screening

Datia’s platform features hundreds of data points for over 600k financial instruments and 200k funds. This has assisted its customers to use Datia for ESG data collection & analysis, portfolio screening, ESG preference modelling and the automation of ESG, SFDR & EU Taxonomy reporting.

The funding will support the Scandinavian startup’s plans to scale across Europe, hire key talent and expand its efforts to include wealth advisors & neo-bankers. It will also help to accelerate the research and development of its ESG tools and sustainability data.

Datia’s place in a growing ESG scene

The global ESG reporting market is rapidly developing and is expected to grow at a CAGR of 17% to reach $16B by 2027. Also growing hand-in-hand with this is the number of sustainable finance regulations and policy interventions. This has in turn added an extra layer of pressure on investors to meet market and regulatory demands.

Guillem Sague, a Berlin-based Nauta Capital Partner and fresh Datia board member appointee recounts this, highlighting, “ESG can have a positive effect on the financial performance and reduce overall risk. Datia’s ability to help the investor with ESG data means less of a headache and more transparent analysis. Ultimately, it brings the investor forward into the future of sustainable finance.”

Datia was founded by Juan Manuel Serruya, a previous early employee at Spotify serving as Head of Engineering for Creator Studio alongside Manne Larsson who previously worked at the VC EQT Ventures as an investor.  The duo’s journey to empower investors’ transition to sustainable finance remains a noteworthy one. TFN will remain on the lookout for this interesting green fintech from Sweden.

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