JustCarbon, a blockchain-powered marketplace for carbon offsetting, has reportedly teamed up with SeedLegals, a London-based startup funding platform, to launch the first carbon-neutral investment round.
The carbon offsetting company is looking to raise up to $5m for its seed round, according to a report from Bdaily.
With the funds, JustCarbon plans to scale its operations and hire more staff. It is also planning to invest in e-commerce, website business growth and new product development.
To make the funding round carbon-neutral, 200 JustCarbon Removal tokens, which equates to 200 tonnes of carbon dioxide removed from the atmosphere, will be retired.
JustCarbon is a blockchain-powered marketplace that simplifies offsetting carbon emissions and supports high-quality carbon removal projects to combat climate change.
It claims that it helps businesses and individuals to mitigate their carbon emissions by purchasing the JustCarbon Removal tokens. These tokens can be bought, sold or retired.
JustCarbon co-founder Russell Parsons said, “JustCarbon is designed to make market access simpler and more efficient for both buyers and sellers, ensuring that engaging in climate action is transparent and accessible as well as environmentally sound.
“Partnering with SeedLegals not only fuels our investment round, but it is a great example of how, if businesses think differently, they can also help fight climate change by funding climate action.”
In other ESG FinTech news, Climate First Bank, which is a full-service, FDIC-insured commercial bank focused on environmental sustainability, acquired FinTech company Ecountabl.
Through the deal, Climate First Bank will provide customers with insights into their carbon impacts.
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