Sustainability-focused fintech startup WeeFin announced that it has raised €25 million (USD$27 million) in a Series B funding round, with proceeds aimed at expanding internationally and develop its offerings to help financial institutions manage their sustainability strategies.

Established in 2018, Paris-based WeeFin provides solutions aimed at enabling financial institutions to deploy more ambitious sustainability strategies, by centralizing ESG processes ranging from data collection, reporting and indicator calculation to commitment monitoring and regulatory updates. The company has developed a SaaS platform that allows financial institutions to optimize their environmental impact by integrating sustainability metrics and compliance into their investment strategies.

WeeFin currently has more than 40 customers across Europe, with total customer Assets under Management (AuM) worth €6.900 trillion. The company said that it will use the new capital to continue its expansion across Europe, including in the UK via its recently opened London office, as well as to enhance its platform functions such as data management, integrate new data sources, and launch new modules, including a solution dedicated to ESG performance attribution. The company added that it plans to hire more than 100 new employees over the next three years.

Grégoire Hug, CEO and co-founder of WeeFin, said:

“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.”

The funding round was led by European fintech fund BlackFin Capital Partners, alongside existing investors IRIS, Asterion Ventures and Ring Capital.

Julien Creuzé, Partner at BlackFin, and Chloé Novène, Investment Manager et BlackFin, said:

“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.”