impak ratings, an analysis and rating agency for financial institutions, has pulled in €4.5m in a Series A funding round.
The round was headed by Altalurra Ventures and Societe Generale, which the latter being one of Europe’s first financial services groups actively supporting its clients in their environmental and energy transition with financing solutions.
Established in 2019, impak provides financial institutions with high-quality impact analysis based on the most consensual and rigorous industry standards, that bring transparency, data contextualisation and comparability.
By assessing how companies mitigate their negative impacts and how they generate positive ones, all through the lens of the UN’s 17 Sustainable Development Goals, impak claims it goes beyond traditional ESG analysis and promotes a double materiality approach that consists in studying not only the ESG risks to a company’s business model, but also the impact of a company on its environment and society.
impak CEO and founder Paul Allard said, “The announcement of our partnership with Societe Generale is significant and confirms impak’s positioning as a leading impact analysis and rating agency in Europe. It shows the acceleration of the financial sector’s transformation towards responsible and positive impact finance. This investment and the resulting partnerships clearly demonstrate the global leadership of these players in terms of sustainable finance.”
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