Datia secures $3.4m for ESG reporting

Swedish climate FinTech Datia has raised $3.4m in a seed funding round to streamline ESG workflows.

According to a report by Tech EU, the investment was led by Berlin-based VC firm Nauta Capital, with participation from Accel Starter Ramzi Rizk, Zenloop’s founder Paul Schwarzenholz, Söderberg & Partners and Sting.

Founded in 2019 by Juan Manuel Serruya and Manne Larsson and headquartered in Stockholm, Datia aims to support investors in their sustainability work.

The startup offers sustainability calculations for hundreds of data points like carbon footprint, gender pay gap and energy usage on companies and funds. The company works with asset managers, wealth advisors, and platforms, allowing for measuring the impact of portfolios, regulatory reporting, and screening.

The funding will drive its expansion across Europe. It will also help to accelerate research and development of its ESG tools and sustainability data.

Juan Manuel Serruya, founder and CEO of Datia, said, “Old-school ESG ratings aren’t enough anymore. Increasingly the challenge is integrating real, hard data into the investment process, complying with rapidly changing regulations and client demands for sustainability.

“Investors face challenges collecting hundreds of ESG data points, incorporating them into their investment process and complying with complex regulatory client demands. Datia is an investor-first solution for that.”

Institutional investors are spending an average of $1.3m annually to collect, analyse and report climate data to inform their investment decisions, according to a study from ERM.

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