European decarbonisation leader Plan A secures $27m in funding

Plan A

Plan A, a corporate carbon accounting, decarbonisation, and ESG reporting software provider, has successfully finalised a $27m funding round.

The round was spearheaded by Lightspeed Venture Partners and saw significant participation from Visa, which partnered exclusively with Plan A in December 2022. Additional notable investors included Deutsche Bank, Opera Tech Ventures (the venture capital branch of BNP Paribas), and renowned unicorn founders from firms such as Supercell, Aiven, Zalando, and Wolt.

Plan A’s technological prowess in climate data processing and business decarbonisation has been evident with its substantial customer base growth, having over 1,500 clients, and software revenue surges of more than 600% YoY from December 2021 to 2022. Their pan-European partnership network was a strong attraction for the investment.

With this newly acquired capital, Plan A has set its sights on an ambitious growth trajectory. The firm is gearing up to double its workforce to over 240 employees. Their primary focus will be on strengthening their market presence in countries like France, the UK, and Scandinavia. Moreover, there will be significant enhancements to their platform’s capabilities, particularly concerning its decarbonisation tools, Scope 3 coverage, policy alignment features, and more. Their ultimate objective remains to assist countless businesses in navigating their journey to net-zero emissions through their comprehensive SaaS platform.

Delving deeper into Plan A’s offerings, their Sustainability Platform stands out. It automates the data mapping process across Scopes 1, 2, and 3, amalgamating them with national emission figures and datasets. This results in intricate emission profiles and ESG insights. The software aids businesses in setting rigorous net-zero targets and provides them with over 1,000 decarbonisation strategies, activities, and best practices. Additionally, it ensures companies adhere to various regulations through its ESG reporting. The platform’s high automation levels make the complex task of decarbonisation simpler, more streamlined, and cost-effective.

Plan A doesn’t compromise on the scientific credibility of its platform. All the embedded calculations and decarbonisation solutions align seamlessly with global scientific methodologies and standards. This includes notable ones like the Greenhouse Gas Protocol and the Science Based Targets initiative (SBTi). Furthermore, TÜV Rheinland, a globally respected verification body, has certified the accuracy of the platform’s Corporate Carbon Footprint (CCF) calculation approach.

Plan A CEO Lubomila Jordanova said, “Climate change and the associated impacts pose an existential risk to businesses. It’s our mission at Plan A to provide made-to-measure software solutions and services to empower large and complex companies to decarbonise their operations and value chains and respond to the regulatory shift. We are over the moon to bring these stellar investors onboard the Plan A journey today to back us in navigating the complexity of corporate decarbonisation and address climate change on a global scale.”

Copyright © 2023 RegTech Analyst

Enjoyed the story? 

Subscribe to our weekly RegTech newsletter and get the latest industry news & research

Copyright © 2018 RegTech Analyst


The following investor(s) were tagged in this article.