Paris, London, 1 April: WeeFin, the sustainable fintech that helps financial institutions manage their sustainable strategies, has announced a new round of financing totalling €25 million. The funding round, which completed 15 months after WeeFin’s Series A, is led by BlackFin Capital Partners, a leading European fintech fund, alongside existing investors IRIS, Asterion Ventures and Ring Capital. The investment will enable WeeFin to continue to raise the standards of sustainable finance through its suite of products and further strengthen its international presence and offering, including in the UK market through its London office.
WeeFin, launched in 2021 by Grégoire Hug (former R&D product manager at BNP Paribas), Marion Aubert, and Guillaume Klech, provides financial services companies with a SaaS platform that centralises all the data needed to deploy and manage ambitious sustainability strategies, encompassing aspects such as ESG, impact and climate. Sustainability has become a major strategic area of growth and differentiation for financial institutions, and WeeFin’s leading solution helps clients make the most of this opportunity.
The company currently has more than 40 customers across Europe, including Generali Asset Management, Caisse des Dépôts Asset Management and Groupe BPCE, with total customer Assets under Management (AuM) reaching €6,900 billion.
WeeFin will use this investment to further enhance its products and services by optimising existing functionalities such as data management, launching new innovative modules, including a solution dedicated to ESG performance attribution, and integrating new data sources. This will help to ensure regulatory compliance and enable better coverage for clients to support investment decisions.
The fintech has grown strongly in recent years, increasing its international sales from 0% to 30% with Annual Recurring Revenues (ARRs) increasing fivefold in the last two years. WeeFin plans to continue its expansion across Europe by entering new markets, with new clients in Luxembourg and Italy, along with the opening of WeeFin’s UK office. WeeFin has doubled its headcount in two years and plans to welcome more than 100 new employees over the next three years.
Julien Creuzé, Partner at BlackFin, and Chloé Novène, Investment Manager et BlackFin commented,
“We have been following WeeFin since its inception and have been particularly impressed by the ability of its management team to execute its ambitious vision. In a very short space of time, WeeFin has won over some of the world's leading asset managers and achieved some very exciting international successes, particularly in the UK. At BlackFin, we share the founders’ vision to establish WeeFin as the leading ESG data management platform for large financial institutions and asset managers. We are looking forward to working with the teams and supporting them in this new phase of growth.”
Grégoire Hug, CEO and co-founder of WeeFin added,
“With BlackFin Capital Partners as one of our investors, WeeFin has the support it needs to make a definitive impact in Europe. We have always been convinced that sustainability is an essential and differentiating strategic element for financial institutions. This Series B not only confirms this vision, but also validates our clients trust and the relevance of our platform, which enables them to address their challenges at scale.”
About WeeFin
Founded in 2018 by former banking and finance professionals, WeeFin is a mission-driven company that helps financial institutions deploy more ambitious sustainability strategies by centralising the entire ESG process (data collection, reporting, indicator calculation, commitment monitoring, regulatory updates...) on a 100% modular platform, thus adapting to each client’s needs and their investment strategies. The company already serves more than 40 clients in Europe, managing €6900 billion in assets.
It is part of the Impact 120 by Mouvement Impact France, which identifies future impact unicorns, and the 2024 ESG Fintech 100 ranking.
About BlackFin
Focused on investing in financial services companies, BlackFin is the European sector leader with over €4bn assets under management. With its venture capital strategy, BlackFin invests in the fastest growing fintechs and insurtechs across Europe from Series A to Series C. Founded in 2009, BlackFin Capital Partners is an independent private equity and venture capital firm led by nine partners who have worked together as managers and entrepreneurs in the financial industry for decades. The team has c. 50 professionals across offices in Paris, Frankfurt, Amsterdam, Brussels and London.
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