Sweden’s sustainability platform Worldfavor bags Series A
Stockholm-based sustainability platform Worldfavor has raised €10.2 million in its Series A round to support its growth and expansion plans.
SEB Private Equity, part of the leading Nordic corporate bank SEB, acted as lead investor. Other commitments came from Brightly Ventures and Spintop Ventures.
This capital injection will enable Worldfavor to continue its expansion and market entry plans to fill the global gap to easily access, share and gain insights from ESG data.
In addition, the company will strengthen its research and development to constantly improve its sustainability platform and provide users with the best product.
Worldfavor is a sustainability platform that enables companies to access, share and leverage business ESG data to gain insights and enable sustainable action, including internally, through value chains and via investments. Its data includes greenhouse gas emissions, diversity, human rights, anti-corruption and more.
Its growing network of 25,000+ organizations understands their impacts and risks, fuels action and remains resilient – clients include Oatly, Oakley Capital and Grant Thornton.
The sustainability platform also supports compliance with ESG-related regulations, including SFDR, HRDD, GHG, GRI and more.
Worldfavor co-founder and CEO Andreas Liljendahl said: “Worldfavor was founded in 2016 and since then we have found ourselves scaling rapidly. We now work with over 25,000 organizations in 130+ countries, enabling better decision-making and increased ESG awareness in global operations.
“With new funding and strategic partners, we are now accelerating towards Worldfavor’s mission to make sustainable business mainstream.”
ESG is becoming an important aspect of the WealthTech space. Earlier this week, private market investment platform Titanbay teamed up with Apex Group to add an ESG rating to new funds added to the Titanbay platform.
Another new development in the ESG space saw all INVESTED obtain an ISAE 3402 Type I certification for its sustainability module from Deloitte, as MiFID II’s update is launched.
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