Paris-based WeeFin raises €7 million in series A round funding from European investment fund IRIS and Ring Capital. Investors Asterion Ventures and Investir&+ are following up on their past investment in this round that will reach the total amount of €10M, including non-dilutive funding by the end of the year.
This Series A investment will allow the startup to foster its growth across Europe and boost its R&D initiatives. The company is hiring 100+ new employees over the next two years for its tech and sales teams and open an office in London.
Leveraging its Software as a Service (SaaS) platform, WeeFin empowers financial institutions to implement and oversee robust ESG strategies, ensuring compliance with national and international regulations.
Notable clients include Natixis Investment Managers, La Financière de l’Echiquier, Ostrum Asset Management and Sycomore Asset Management.Regulatory frameworks now require financial institutions to measure their holdings’ impact in terms of Environment, Social and Governance, in order for them to invest more responsibly.
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Climate, biodiversity, gender parity or human rights protection, monitoring an ESG strategy implies managing heterogeneous and distributed data coming from multiple providers, based on specific objectives and local regulations.
This fundraising will allow WeeFin to become the go-to ESG platform in Europe.
The company supports clients in implementing ESG strategies and preparing for upcoming regulatory changes, such as the new SRI label reference framework (March 2024).
The European regulation level 2 update on ESG transparency of financial products (SFDR) in 2025, and the implementation of the SDR regulation in the UK by the end of 2024.
Grégoire Hug, CEO and co-founder of WeeFin, states:”This new funding will enable us to push our mission further by elevating the standards of sustainable finance, making our customers’ lives easier, and guiding them towards increasingly ambitious ESG strategies. In 2024, we plan to expand our product range by introducing new functionalities to the platform. We are also enthusiastic about venturing into new markets in Europe, believing that impactful change for the planet comes through widespread commitment.”
Sabrine Aouida, Chief Impact Officer at WeeFin, adds:”Since the inception of WeeFin, we have supported numerous financial institutions in developing and strengthening their ESG strategy. Seeing companies making a more robust commitment with our help brings us some much pride, and we look forward to going even further with them.”
Daphné Dupont Gurs, Principal at Ring Capital, mentions:”As an impact fund, we are convinced that financial institutions need to adopt more ambitious ESG strategies. Ging beyond regulations and reporting, transforming their investment practice for good, putting social, environment, and governance at the very heart of their invests. But it’s very hard to improve without the good tools, this is why we are proud to support WeeFin in its mission to provide the latest tech to responsible finance, allowing clients to define ambitious strategies and invest in companies that will effectively support the transition to a more sustainable world.”
Founded in 2018 by Grégoire Hug (former Head of Product R&D at BNP Paribas), Marion Aubert, Sabrine Aouida and Guillaume Klech, the company already works with over 35 clients in Europe gathering €4,454 billion assets under management and 8m+ portfolio companies.
The mission of the influential Fintech WeeFin is to democratise sustainable finance. They are working to develop the first B2B SaaS platform designed with ESG by design, called ESG Connect. They provide all financial participants with the means to integrate sustainability into their investment strategy.