Sustainability-focused data solutions company Diginex announced today the closing of a $6 million Series A funding round, led by Fitch Ventures, the equity investment arm of financial information services company Fitch Group.
Andrew Steel, Global Group Head of Sustainable Finance at Fitch Group, said:
“The ESG market continues to grow and innovate at a rapid pace but, with taxonomies still evolving, harmonization of standards remains a challenge. Diginex’s product platform is a significant market enabler for companies seeking to gather, manage and disclose ESG data and for investors seeking better quality consistent ESG information. We are tremendously excited about the products currently being offered and those under development by Diginex.”
According to Diginex, the financing will support its development of blockchain-enabled SaaS products and efforts to deepen its global distribution channels. Earlier this year, the company launched DiginexESG, a blockchain-enabled reporting platform aimed at helping companies of all sizes and reporting experience make their ESG reporting faster, easier and more affordable.
Additionally, the funding will help the company bring DiginexClimate to market, its new software solution aimed at enabling companies to measure and improve their carbon footprint.
Miles Pelham, Founder, and Chairman of Diginex said:
“We are delighted to have Fitch Ventures partner with us as Diginex continues to grow, sharing our vision to make ESG reporting effortless as it moves into the mainstream. Earlier this year, we launched the DiginexESG platform, which provides an accessible and transparent tool for companies to identify and report on key areas of materiality against the world’s most recognized frameworks. This latest funding round will enable us to continue bringing new technologies that help businesses deliver on their sustainability goals, including with our latest DiginexClimate platform which helps companies manage their carbon footprint on their path to net zero.”
Shea Wallon, Managing Director at Fitch Ventures, added:
“Fitch is the only credit rating agency with a comprehensive, systematic & credit-focused approach showing how ESG factors affect credit ratings. It’s through this lens that we are excited to back Diginex as the team drives the business forward to offer ESG reporting solutions that work for companies of all sizes. It’s a hugely exciting opportunity for us and we are very proud of our involvement in this purpose driven business.”