Nossa Data, a FinTech startup that is helping corporates streamline their ESG reporting, has raised £1.2m in a seed funding round.
The round was led by Symvan Capital and BGF. Nossa Data also said the round brought in prominent angel investors as well as follow-on funding from SFC Capital and Techstars.
Nossa Data said its software offers companies everything they need to streamline their ESG disclosure in a single place. The benefits include template reporting to the top ESG frameworks including SASB Standards and TCFD, benchmarking of a company’s ESG performance versus its peers, detailed workflow optimisation for peer collaboration and AI insights.
The FinTech said the funding will allow it to continue to develop its ESG reporting software and improve customer experience and efficiencies.
Julianne Flesher, Nossa Data CEO, said, “We spoke to the ESG disclosure teams at the world’s largest companies and it was shocking to learn how much time they need to spend on repetitive disclosures. For a large corporation, they are currently expected to respond to about a dozen distinct ESG frameworks – that does not even include the additional ad-hoc investor questionnaires or ESG rating agency requests they receive.
“Getting to work with an emerging standard like the WDI was an amazing opportunity for our team. Our software enabled all 170 WDI disclosing companies including half of the FTSE 100 such as Unilever, Barclays, AstraZeneca, H&M and more to submit their 2021 data on key workforce topics. Through this collaboration we have collected thousands of pieces of product feedback that have directly impacted how our product works today.”
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