Stockholm-based sustainability platform Worldfavor has raised €10.2m in its Series A round to aid its growth and expansion plans.
SEB Private Equity, part of the leading Nordic corporate bank SEB, served as the lead investor. Other commitments came from Brightly Ventures and Spintop Ventures.
This capital injection will allow Worldfavor to continue its expansion and market entry plans to fill the global gap of easily accessing, sharing and gaining insights from ESG data.
Additionally, the company will bolster its research and development to continually improve its sustainability platform and provide users with the best product.
Worldfavor is a sustainability platform that enables businesses to access, share and leverage business ESG data to gain insights and make sustainable action possible, including internally, through value chains and via investments. Its data include GHG emissions, diversity, human rights, anti-corruption and more.
Its growing network of 25,000+ organisations understand their impact and risks, fuel action, and stay resilient – customers include Oatly, Oakley Capital and Grant Thornton.
The sustainability platform also supports compliance with ESG-related regulations, including SFDR, HRDD, GHG, GRI and more.
Worldfavor co-founder and CEO Andreas Liljendahl said, “Worldfavor was founded in 2016 and since then we have found ourselves scaling rapidly. We now work with over 25,000 organisations in 130+ countries, enabling better decision-making, and increasing ESG awareness across global operations.
“With new funding and strategic partners, we’re now accelerating towards Worldfavor’s mission to make sustainable business the mainstream.”
ESG is becoming a major aspect of the WealthTech space. Earlier this week, private markets investment platform Titanbay teamed up with Apex Group to add an ESG rating to new funds added to the Titanbay platform.
Another recent development in the ESG space saw everyoneINVESTED obtain an ISAE 3402 Type I certification for its sustainability module from Deloitte, as MiFID II’s update launches.
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