Stockholm-based sustainability platform Worldfavor has today announced a Series A funding round of 105.3mn SEK/€10.2mn, that will fuel growth and expansion plans.
The round was led by leading Nordic corporate bank, Stockholm-based SEB, and existing investors Brightly Ventures and Spintop Ventures also participated in the round. The equity round means that Worldfavor has raised €13.4mn to date.
– Based on our conviction of the importance of sustainability as a key driver for a successful business, we invested in Worldfavor three years ago. To get access, share and leverage ESG data is more relevant than ever. I’m thrilled that Worldfavor with this funding round of 100 mn SEK will continue to help thousands of companies to make the best long term decisions for their businesses as well as our environment, says Peter Carlsson, partner at Spintop Ventures.
Worldfavor will use the funding to continue its ambitious expansion and market entry plans to fill the global gap of easily accessing, sharing and gaining insights from ESG data to fuel sustainable action. At the same time, Worldfavor will invest in research and development to continually improve the platform, support businesses in all stages of their sustainability journey, and provide users with the best possible product.
– Worldfavor was founded in 2016 and since then we have found ourselves scaling rapidly. We now work with over 25,000 organisations in 130+ countries, enabling better decision-making, and increasing ESG awareness across global operations. With new funding and strategic partners, we’re now accelerating towards Worldfavor’s mission to make sustainable business the mainstream, says Andreas Liljendahl, Worldfavor co-founder and CEO.
Worldfavor is a sustainability platform which enables businesses worldwide to easily access, share, and leverage business ESG data – such as GHG emissions, diversity, human rights, anti-corruption and more – to gain insights and make sustainable action possible, both internally and through far-reaching value chains, as well as those of investments. The platform helps its growing network of 25,000+ organisations understand their impact and risks, fuel action, and stay resilient – customers include Oatly, Oakley Capital and Grant Thornton.
Uniquely, Worldfavor makes sustainable action possible by centralizing high quality, impactful, ESG data all in one platform – connecting businesses worldwide and making combined action a reality. Worldfavor supports adherence to legislation and staying compliant with laws and ESG-related regulations such as the SFDR, HRDD, GHG, GRI and more.