FinLab AG

Spark Change, a FinTech developer of green financial products, raises $4.5m led by Barclays - Seite 2

According to Morningstar, ESG funds attracted $45.6 billion of inflows in Q1 2020. The company is rapidly scaling its team to meet this growing demand.

Chairman Daniel Barry said the company will use the funding to launch its first range of products later this year.

"We created Spark Change to address the lack of innovative green financial products that provides exposure to physical carbon allowances," said Barry.

"The greater impact of Spark Change extends beyond what we have already built in our core technology, where we can overlay exposure to the value of physical carbon allowances into any equity or fixed income portfolio. The growing demand from institutions illustrates we've struck a chord that resonates around the world. We believe that market-driven pressures combined with our platform can directly impact the price of carbon and create significant environmental benefit."

Stefan Schuetze, Managing Director of FinLab, and US serial entrepreneur Paul Stahura, will join the board of directors, while Ryan Hayward, Head of Strategic Investments for Europe and Asia at Barclays, will join as board observer. Other investors in the current and previous rounds include Techstars, Swing Ventures, Librae Holdings, which is owned by the trustees of a discretionary trust of which Vincent Tchenguiz is a beneficiary, and angel investors Matthew Le Merle and Chris Adelsbach.
 

About Spark Change

Spark Change is a technology platform that simplifies access to green financial products designed to accelerate the world's transition to a low carbon economy. For more information visit www.sparkchange.io.

 

About Barclays

Barclays is a British universal bank. We are diversified by business, by different types of customer and client, and geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.