WeeFin, a pioneering company in the FinTech industry, has announced securing a substantial €7M in Series A funding.
This impressive financial injection was led by European investment fund IRIS and Ring Capital, with further contributions from existing investors Asterion Ventures and Investir&+. The funding round is expected to reach a total of €10M by the year’s end, including non-dilutive funding.
WeeFin, founded in 2018, is renowned for its innovative Software as a Service (SaaS) platform. This platform is specifically designed to assist financial institutions in developing and managing effective Environment, Social, and Governance (ESG) strategies. It ensures compliance with various national and international regulations, positioning WeeFin as a key player in this sector.
The newly acquired funds will be instrumental in WeeFin’s ambitious growth plans. The company aims to expand its footprint across Europe and boost its research and development initiatives. To support this expansion, WeeFin is looking to recruit over 100 new employees for its technology and sales departments. Moreover, it plans to establish a new office in London, further solidifying its presence in the European market.
WeeFin has made significant strides in the financial industry, currently serving over 35 clients across Europe. These clients manage assets totaling €4,454bn and include notable names such as Natixis Investment Managers, La Financière de l’Echiquier, Ostrum Asset Management, and Sycomore Asset Management.
The company’s platform, ESG Connect, addresses the growing need for robust ESG strategy management in financial institutions. This platform allows for efficient data collection, aggregation, and quality improvement, enabling clients to effectively track and report their ESG commitments. Additionally, WeeFin offers functionalities that go beyond regulatory requirements, helping clients invest more responsibly.
Looking ahead, WeeFin aims to establish itself as the premier ESG platform in Europe. The company is preparing to support clients with upcoming regulatory changes and plans to introduce new functionalities to its platform in 2024. The expansion into new European markets is also on the horizon, demonstrating WeeFin’s commitment to driving impactful change in sustainable finance.
Grégoire Hug, CEO and co-founder of WeeFin, expressed his enthusiasm for the future, stating, “This new funding will enable us to push our mission further by elevating the standards of sustainable finance, making our customers’ lives easier, and guiding them towards increasingly ambitious ESG strategies. In 2024, we plan to expand our product range by introducing new functionalities to the platform. We are also enthusiastic about venturing into new markets in Europe, believing that impactful change for the planet comes through widespread commitment.”
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