New Investment: FINGREEN AI, ESG Data Solution for Private Markets
We are happy to announce our latest Plug and Play Startup Camp EMEA investment: FINGREEN AI, a data intelligence platform that evaluates, monitors, and improves private assets’ Evironmental, Social, and Governance (ESG) performances.
Fighting greenwashing with ESG compliance
Currently, companies around the world face pressure to analyze, optimize, and report their global impact. They spend an enormous amount of money on many greenwashing scandals (compliance, risk management, lack of data collection, consultants, etc.) and often get poor results. They're manually trying to understand what data to look for, where to look for it, and how to make sense of it to produce compelling sustainable reports that differentiate them from their competitors.
In 2021, there was a paradigm shift in the regulatory framework surrounding finance and sustainability. The European Union published a “Green Taxonomy,” accompanied by brand-new compliance obligations for financial institutions and corporates such as Sustainable Finance Disclosure Regulation (SFDR) or Corporate Sustainability Reporting Directive (CSRD). The entire developed world is now coming out with ESG regulatory packages based on the European template, and companies worldwide are starting to be accountable for their ESG performance.
The team behind FINGREEN AI
Louis Frank, FINGREEN AI’s CEO, has studied finance at NYU Stern, completed two years of studies at HEC Paris, and brings his professional experience in venture capital and wealth management to his first start-up.
He is complemented by François Amat, CTO, a Telecom Paris alumni, who has worked for Dassault Systèmes, developing Explainable AI data models and focusing on taxonomies/ontologies he leverages today with the green taxonomy and XAI estimation models.
Jérémie Boullu, COO, has joined the FINGREEN AI team full-time from Airbus. He brings his experience in regulatory compliance, having worked for more than four years for Airbus and having a deep knowledge of the European regulatory ecosystem and frameworks.
Finally, CIO Wenru Shu deeply understands impact and sustainability. Previously, she studied at UCLA and HEC, worked for Bloomberg in San Fransisco, and was the Head of Research in ESG/Greentech at the Young GreenTech, Asia Society in New York.
Startup Camp EMEA investment
“I am particularly excited to welcome Plug and Play as one of our first investors in FINGREEN AI. Having an early investor of Paypal, Google, Dropbox, etc., that backs you at the very beginning is a great sign, and I know first-hand how deep their partners’ network runs. We are witnessing a sustainable revolution in private markets, and we believe Plug and Play is the perfect partner to help accelerate this movement," said Louis Frank, CEO and co-founder of FINGREEN AI.
FINGREEN AI is the latest addition to the Startup Camp EMEA by Plug and Play, and they will be part of our first batch starting in early 2023. The Startup Camp EMEA program is an initiative designed to support founders at the earliest stage; we seek to invest in ambitious teams across Europe, the Middle East, and Africa from Day 0. We don’t need to wait for your MVP, initial revenue, or first customers. We believe that entrepreneurs should be free to focus on building instead of raising funds or worrying about their living expenses.
"We believe every asset class has to become more sustainable, our newest portfolio startup too. FINGREEN AI's ESG Data Platform is on a mission to provide startups and SMEs and private market investors, M&A, consultants, and lenders with an easy tool to embark on their ESG journey," said Thomas Bigagli, Director France and EMEA Investment Committee Member.