WeeFin: a €25 million Series B round to make sustainable finance the new standard

Series B funding: WeeFin raises €25 million to become the European leader in ESG data management for major financial institutions.

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Another acceleration for WeeFin (and the first Asterion participation to cross the Series B funding hurdle). Less than a year and a half after its last funding round, the fintech company specializing in sustainability data management for financial institutions has announced that it raised 25 million euros in Series B financing. A funding round led by BlackFin Capital Partners, with the support of its long-standing investors IRIS, Ring Capital and, of course, Asterion Ventures. It aims to consolidate its position in Europe and further raise the standards of sustainable finance.

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A promising start-up turned key player in sustainable finance

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Since launching its platform in 2021, WeeFin has built a solid reputation among financial institutions seeking transparency and efficiency in their ESG strategy. Its promise? A SaaS solution that centralizes all the data needed to manage environmental and social commitments.

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And the figures speak for themselves:

• WeeFin has more than 40 clients, amounting to 6,878.5 billion euros in assets under management (a tenfold increase in 2 years)
  
• Over the same period, the proportion of sales generated outside France grew from 0% to 30%.
• Its annual recurring revenue has increased fivefold (also since 2023)
  
• Its workforce has doubled —now totaling 80 collaborators— and is set to exceed 100 by the end of the year.

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After a successful international expansion into Luxembourg and Italy, the fintech company set up an office in the UK several months ago (following its Series A funding round), thus reaching a new key stage in its development.

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A new funding round to accelerate growth at the European level

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With this Series B funding, however, WeeFin is setting its sights even higher. The funds will be used to add new functionalities to its platform, including a solution dedicated to the attribution of sustainability performance and the integration of new data sources.

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BlackFin is convinced by the potential of fintech. " WeeFin has won over major asset managers and proved the value of its platform, even in complex markets such as the UK. We're looking forward to supporting it in this new phase of growth ", comments Julien Creuzé, a partner at BlackFin.

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For his part, Grégoire Hug, co-founder and CEO of WeeFin, sees this round as validation of the company's model: " We've always been convinced that sustainability would become a strategic issue for financial institutions. This new funding gives us the means to accelerate even further and to continue innovating. "

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It's a familiar journey for Charles-Henry Choël, partner at Asterion Ventures and WeeFin board member: " Nearly 25 years ago, I started working in a start-up that was involved in dematerialization for stock exchanges... In just a few years, we went from a small team of a few dozen employees to a world leader. I'm convinced that WeeFin is on a similar trajectory: France is one step ahead in terms of sustainability, a player that has proven itself there is ideally positioned to assume a European leadership role. Additionally, Europe has every chance of staying one step ahead of the rest of the world given the current turbulent context...".

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There is a clear objective: to be the go-to sustainable finance tool in Europe. And with this Series B funding, WeeFin now has the means to realize its ambitions.