InsurTech innovator CarbonPool secures $12m to fortify carbon credit markets

InsurTech innovator CarbonPool secures $12m to fortify carbon credit markets

CarbonPool, a trailblazing company at the intersection of insurance technology and environmental sustainability, has successfully completed a funding round, raising a significant CHF 10.5 million ($12m).

This financial boost was led by an impressive consortium of investors including Heartcore Capital, Vorwerk Ventures, HCS Capital, Revent Ventures, and illustrious former executives from the insurance giant Allianz, Axel Theis and Christof Mascher.

At its core, CarbonPool is dedicated to transforming the carbon credit markets. Established by a trio of former Allianz executives – Coenraad Vrolijk, Nandini Wilcke, and Frederic Olbert, the company is on a mission to invigorate the investment in carbon credits.

Carbon credits play a pivotal role in the global endeavour to achieve net zero emissions. However, the market has encountered significant volatility and scepticism regarding credit integrity and risk management. Addressing these concerns, CarbonPool’s innovative insurance model offers payments in-kind, assuring companies of the tangible delivery of their carbon credits, and thereby injecting much-needed confidence into the sector.

Adding to the company’s credentials, CarbonPool has its sights set on becoming the world’s premier insurance firm with a balance sheet comprised of carbon credits. Presently, the firm is navigating the regulatory landscape, actively pursuing an insurance license in Switzerland.

Echoing the company’s ethos and ambition, CarbonPool chief executive Coenraad Vrolijk remarked, “CarbonPool’s in-kind payments make it unique among insurers in not only offering protection to holders of carbon credits in cases of natural disaster or technology breakdown, but also in providing a guarantee that carbon credits live up to their promises, giving purchasers certainty and ensuring that they can meet their net zero goals.”

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