The green tech company Finana AB d/b/a Datia (www.datia.app) simplifies investors’ transition to sustainable finance and helps companies understand the impact of their portfolios, regulatory reporting, and pre-trade screening. The Stockholm-based fintech company was founded in 2019 by Juan Manuel Serruya and Manne Larsson (pictured above) and has now raised $3.4 million in a seed funding round.
The global environmental, social, and governance (ESG) reporting market is increasing and is expected to grow at a CAGR of 17% to reach $16 billion by 2027. Datia, headquartered in Stockholm, was and aims to support investors in their sustainability efforts.
The seed finance round was led by Berlin-based VC firm Nauta Capital with participation from Accel Starter Ramzi Rizk, Zenloop founder Paul Schwarzenholz, Söderberg & Partners and Sting. The startup offers sustainability calculations for hundreds of data points such as carbon footprint, gender pay gap, and energy consumption of companies and funds. The company works with asset managers, and wealth advisors to measure portfolio impact, regulatory reporting, and screening.
The company has a client network with more than $100 billion in assets under management (AUM). The CEO of Datia, Juan Manuel Serruya, said, “Old-school ESG ratings are no longer enough. Increasingly, the challenge is integrating real, hard data into the investment process and meeting rapidly changing regulations and customer demands for sustainability. Investors face the challenge of collecting hundreds of ESG data points, integrating them into their investment process, and meeting complex regulatory client requirements. Datia is an investor-first solution for this.”
Guillem Sague, Partner at Nauta Capital and recently appointed Datia Board Member, added, “ESG can positively impact financial performance and reduce overall risk. Datia’s ability to help the investor with ESG data means fewer headaches and more transparent analysis. Ultimately, it moves the investor into the future of sustainable finance.”