Climate fintech start-ups raised $1.2 billion in 2021 – three times more than all previous years combined – according to new figures from fintech-focused VC firm CommerzVentures.
The CommerzVentures Climate FinTech Report 2022 revealed that US companies were higher funded on average than European ones, particularly at Series B-level or after, where US firms raised $403 million against the EU’s $239 million. However, EU climate fintech companies raised more in total at pre-seed, seed and Series A level.
In 2021, $233 million was raised by European climate fintechs at Series A, with pre-seed and seed companies raising more than $150 million.
CommerzVentures analysed 292 climate fintech start-ups and conducted extensive research, including a systematic literature review of 13 leading climate and fintech publications.
Data was also drawn from more than 10 attributes per company, including funding data, and the research team also leveraged insights from founders.
The report shows the UK saw the…