Pexapark, a specialist in software and advisory services for renewable energy sales, has raised an additional €8 million in second round of Series B funding.
This round began in late 2021, and brings Pexapark’s total Series B funding to €14 million, and its total equity investment to €19 million, accelerating its growth in the global renewable energy market.
The funding round, formally announced this month, has seen S&P Global Commodity Insights, which includes S&P’s Platts price benchmarks, and Fluence, an energy storage and digital applications leader, join existing Series A and B investors Encavis, RP Global and BayWa re Energy Ventures in backing the fast-growing business.
Furthermore, Pexapark has now secured the second half of a loan guarantee from the Swiss government’s Technology Fund. This recognises Pexapark’s role in contributing to the energy transition towards net zero.
This latest funding will support the continued expansion of Pexapark – which now employs more than 80 people across Europe – into new business areas of the renewable energy ecosystem, such as storage, trading as a service and portfolio management, which are critical to fully enabling the energy transition. It will also see the business embark upon a significant expansion in headcount across Europe through the course of 2022.
