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ClimateTrade closes EUR7m pre-Series A

ClimateTrade, a blockchain-enabled climate marketplace, has raised EUR7 million in a pre-Series A European funding round and is raising another EUR13 million in a US-focused round set to close on its reincorporation in the next five months.

In total, the company is targeting EUR20 million of funding for international expansion.

The first round was oversubscribed, with interest from more than 90 investment funds. The EUR7 million was provided by Spanish investment firm GED via its VC fund Conexo Ventures, US power and technology fund ClearSky, blockchain investors Borderless Capital and Algorand, SIX FinTech Ventures, the VC arm of Swiss financial infrastructure provider SIX Group, Spain’s Telefónica via its open innovation hub Wayra, the investment arm of Japanese corporation Omron Ventures, climate VC Amasia, and Valencian impact fund Zubi Capital, which is backed by the founder of payment unicorn Flywire, Iker Macaide.

ClimateTrade is a Spanish-based marketplace helping companies achieve their decarbonisation goals by financing certified carbon offsetting and climate-regenerative projects around the world. This new capital will help to grow the startup’s activities in Europe, Asia and the US with new offices in four countries, to expand its technological product offering and to hire new talent.

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