Spark Change said to close £3.5m in its funding round

November 12, 2020

Spark Change, which helps institutional and individual investors access carbon instruments, has reportedly bagged £3.5m in its latest funding round.

The capital injection was led by Barclays, with participation also coming from Solactive and FinLab EOS VC, according to a report from AltFi. FinLab EOS VC is a collaboration between blockchain technology developer Block.One and accelerator platform FinLab.

Some of the companies return backers include Techstars, Swing Ventures, Librae Holding and several angel investors.

Following the close of the deal, FinLab managing director Stefan Schuetze and US serial entrepreneur Paul Stahura will join the Spark Change board of directors. Barclays head of strategic investments for Europe and Asia Ryan Hayward has joined as board observer, the article said.

Funds from the round will be used to help Spark Change release its first line of products later in the year.

Spark Change has build a technology platform and financial product ecosystem that helps investors access carbon exposures. Its goal is to simplify access to the carbon markets and prices around the world to help investors have a bigger environmental impact.