Climate tech fintech startups are achieving better results in attracting venture capital funding, according to new data from CommerzVentures, a venture fund founded by Germany's Commerzbank. This is reported by FinTech Insider.
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In general, fintech startups related to climate technologies, raised $2.3 billion in the US and Europe.
CommezVentures' Climate FinTech Report 2024 tracks investments in more than 600 fintech startups involved in carbon markets, energy management, carbon accounting, ESG, natural capital, climate risk management, supply chain analytics, etc.
The report notes that investment in climate fintechs fell by 19% last year compared to the year before, with funding falling overall fintech accounted for 38%.
European fintech startups led the way, raising $1.4 billion in venture capital, compared to $881 million raised by U.S. startups.
Carbon markets and energy management were the subsectors covered. attracting the most funding ($729 million and $530 million, respectively), in third place is emissions accounting with funding of $333 million last year.
