Climate impact data business Connect Earth has raised £4.7 million investment.

Founded in 2021 and based in London, Connect Earth is an API-first environmental data company that works with banks and FinTech firms to offer their customers transparent insights into the climate impact of their spending and investment decisions. 

The business has grown quickly since its launch and has estimated carbon emissions for more than 500 million financial transactions since the beginning of 2022. 

Its technology has now been integrated with large banking groups such as KBC Bank, community banks and FinTech firms across Europe and the US.

The investment, led by Gresham House Ventures, will be used to accelerate Connect Earth’s expansion among blue chip names in Europe and the US, where it has already begun working with financial institutions and strategic partners such as FIS Global. 

The additional capital will also help bolster the company’s product offering by further breaking down the barriers to accessing environmental data.

Love Ventures, Global Brain and its CVC partner The Norinchukin Bank, Portfolio Ventures, Super Capital VC, strategic angel investors and existing investors Market One Capital, Mustard Seed MAZE and Venista Ventures participated in the round.

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As part of the investment, Gresham House Ventures has brought Stewart Holness onto Connect Earth’s board. Holness has more than 25 years of experience scaling technology businesses as a founder, CEO, non-executive director and chairperson.

“Financial services businesses are increasingly putting environmental data at the heart of their operations, and Connect Earth has an important role to play in this shift,” said Alexander Lempka, co-founder and chief executive at Connect Earth. 

“Gresham House Ventures has an outstanding track record of supporting technology-driven businesses in their vital early stages of growth, and we look forward to working with the team to strengthen our offering further over the coming years.”

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