Sustainability Fintech WeeFin Completes Series B Round Raising €25 Million
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WeeFin, a sustainability fintech that allows professional investors to regain sovereignty over their ESG data and maximize their impact, just completed its Series B funding round recently. The platform managed to raise a total of €25 million (around $26.96 million).
WeeFin was founded in 2021 by a former BNP Paribas research and development product manager, Gregorie Hug, joined by Guillaume Klech and Marion Aubert. The platform has since grown to become one of the go-to platforms for companies seeking financial services.
The firm provides its clients with a Software-as-a-Service (SaaS) platform that centralizes all the data required to deploy and manage ESG, impact, and climate risk.
Right now WeeFin has customers across Europe, with over 40 major names counted among its regular users. Some of the best-known clients include Groupe BPCE, Generali Asset Management, Malakoff Humanis, and Caisse des Depots Asset Management.
The company also holds a total of €6900 billion in assets under management. In other words, it has done quite well for itself in the past four years, primarily thanks to its strong growth strategy. The firm also saw 30% of its total revenue coming from international sales, which is something it managed to achieve in only two years.
During this same period, its Annual Recurring Revenues increased fivefold, indicating once again that the company has been making all the right moves.
WeeFin Has Big Plans For The Future
With the €25 million that it now added to its budget, WeeFin intends to continue its expansion across Europe. The plan is to enter new markets, and it already has new clients interested in collaborating in Luxembourg and Italy. Other than that, another big goal is to open an office in the UK, and establish a new branch there.
The company has already seen sharp growth, doubling its headcount in the last two years. Moving forward, it intends to welcome over 100 new employees, which is a goal it wishes to achieve over the next three years.
Hug, who acts as the firm’s CEO, stated that WeeFin has always been convinced that sustainability is an essential and differentiating strategic element for financial institutions. He added that the success of the Series B round does not only confirms this vision, but it also validates the clients’ trust and the relevance of the platform, which enables them to address their challenges at scale.
