Carbonplace, a London, UK-based carbon credit transaction network, raised USD 45M in funding.
The round was led by BBVA, BNP Paribas, CIBC, Itaú Unibanco, National Australia Bank, NatWest, Standard Chartered, SMBC and UBS.
The company intends to use the funds to scale the platform and its team to expand services to a wider client base of financial institutions and accelerate partnerships with additional carbon market participants, including registries and marketplaces around the world.
Led by CEO Scott Eaton, Carbonplace connects buyers and sellers of certified carbon credits through their banks, enabling their secure transfer. Expected to launch later this year, the system will allow simultaneous settlement of carbon credits, with immediate transfer of ownership upon payment – ensuring reporting and traceability during the entire carbon credit transfer process, and will be available to clients of financial institutions wanting to deliver secure and transparent access to the carbon markets.
Eaton, who has held a number of senior leadership roles in financial technology and capital markets, is joining from capital markets fintech Nivaura, where he served as CEO. Prior to Nivaura, he was CEO of Algomi from 2018 until its sale to BGC in 2020. From 2015-2018, Scott was COO at fixed income trading platform provider MarketAxess.
FinSMEs
10/02/2023