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LOUIS FRANK 4 October 2023

FINGREEN AI raises €1 million to scale leading digital ESG solution

FINGREEN AI, an ESG data and reporting solution for private financial markets, announces that it has completed a pre-seed round of €1 million with investors Plug and Play, Blackwood, HDF and Business Angels. The deal positions FINGREEN AI as a key player in the ESG reporting market.

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FINGREEN AI is an ESG reporting and analytics solution for private financial markets. The solution efficiently collects, centralises and reports on ESG data, helping corporates, investors and lenders meet their sustainability targets and reporting obligations.

Its SaaS solution meets the challenges faced by private financial players who need to improve their ESG measurement systems in line with the new European regulations, The ESG software market is estimated to be worth over €1 billion and growing by 22% YTY.

FINGREEN AI was founded in 2022 by Louis Frank, CEO (HEC Paris), and joined by Sébastien Peterson, CTO (ex-Google) and Nick Inge, COO (ex ANZ) as well as Linda Doutch, ESG Lead (ex Deloitte / ex BNP Paribas). After launching its SaaS platform in May 2023, FINGREEN AI will continue to develop in the coming months along 3 strategic lines:

  • The Team: The recruitment of 7 new talents to strengthen technical, regulatory and commercial capacity 
  • Innovation:The development of new technical functionalities and Explainable AI models
  • European Consolidation: New business targets in the main European countries as well the integration of international norms in their SaaS platform

"In Europe and many other parts of the world, the regulations governing ESG reporting are becoming increasingly complex for financial players. This is a positive development for us, as it imposes new standards requiring companies to disclose detailed information about the environmental impact of their portfolios. This automatically creates a new demand for reliable, transparent and compliant ESG reporting solutions. That's where we come in" says Louis Frank, CEO, adding, "Our fundraising will enable us to accelerate the deployment of our solution, particularly in Europe where the SFDR / CSRD / lSSB and others are imposing strict new ESG reporting standards on companies."

FINGREEN AI builds on its centralised SaaS platform

FINGREEN AI has developed a SaaS solution for measuring the ESG impact of private assets, designed to help financial players better understand the ESG performance of their investments and achieve their sustainability objectives. FINGREEN AI helps its clients integrate sustainability throughout their investment or credit process (due diligence, reporting, monitoring and optimisation of ESG KPIs, etc.).

"We believe that to effectively combat climate change, all asset classes need to assess their ESG performance. But we find that private investors lack the tools to accurately measure their impact, because collecting data from small companies is very complicated. Our SaaS platform aligns ESG data from multiple sources and automates time-consuming and error-prone manual processes that don't allow for an accurate audit of an ESG strategy or guarantee compliance," says Louis Frank, CEO. 


Organisational Pillars: 

  • Innovation: the platform facilitates the collection, analysis and reporting of data, enabling companies to save time and resources. The AI models developed will enable automation and greater reliability in measuring impact.
  • Tailor-made: ESG solutions are customisable and based on the industry, size, geographical area and sustainability objectives of the company.
  • Transparency: Explainable AI models and its open-source repository ensure traceability and auditability of data, encouraging investment in sustainable activities, while strengthening investor protection.

The goal for companies is to generate different ESG reports according to specific regulations/needs in a transparent and optimized way. FINGREEN AI is convinced that the production of ESG reports containing reliable and accurate data will enable investors to make informed decisions.  

“We are immensely proud to be part of Fingreen Al's journey. FINGREEN is building on a solid use case for the application of Al within sustainable finance. The timing could not be better and their dedication and innovation align with our vision of driving positive change. We are also happy to be involved, as users and investors, in their continued growth and the contributions they will make to fight greenwashing and black box methodologies in ESG reporting” Bastian Larsen CEO of Blackwood VC.