Claims Carbon bags €1.1m to help insurers reach net zero value chains

Claims Carbon, a climate and InsurTech startup, has raised €1.1m in seed funding to help insurers reach net zero in their value chain.

The round was led by Vaens, a Helsinki based investment firm with roots in the Basware success story, now focused on impact investing.

Financial services VC firm BiG Start Ventures and InsurTech specialist from Paris also participated, together with the Stockholm based real estate investment company Claesson & Anderzén.

Several business angels also backed the round, including Fredrik Bergström, former CEO of the Swedish insurer Länsförsäkringar AB, and Patrik Backman, founder of MariaDB and OpenOcean.

Claims Carbon was founded in 2021 to help insurers reach net-zero in their entire value chain.

The Claims Carbon software calculates the size of the climate challenge and opportunity in the ecosystem of an insurance company. It also helps in target setting and follow up of emission reductions and provides key data for net-zero insurance product development.

According to Claims Carbon, the funds raised will enable it to develop an even stronger offering to existing clients as well as expansion to new products and geographies whilst growing the team.

Markko Waas, CEO and co-founder of Claims Carbon, said, “Every invested Euro directly converts into reducing insurance related carbon emissions.”

Hannu Vaajoensuu from Vaens, said, “The Founders have demonstrated that they are dead serious about making a real impact in the race to net-zero. Their ability to rapidly close enterprise software deals demonstrates that this market opportunity is exciting.

Florian Graillot from, added, “While insurers are leading the fight against climate change with the ‘net-zero initiative’, Claims Carbon is among few SaaS solutions enabling the industry to track carbon emissions starting with the claims handling process. We are excited to back the founders’ journey to scale across Europe after having already signed a handful of insurers in Northern Europe.”

Earlier this year, kWh Analytics, which supports insurance for the climate, received $20m in funding to support its expansion efforts.

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