Climate-focused fintech for farmers Agreena lands €46m Series B funding
Climate-focused fintech firm Agreena has raised €46 million in a Series B round led by existing investor HV Capital.
Founded in 2018 and headquartered in Copenhagen, Denmark, Agreena operates a soil carbon platform that helps farmers, governments and businesses achieve net-zero emissions and finance the transition to regenerative agriculture. It issues third-party verified carbon certificates to farmers which can be sold on the voluntary carbon market for offsetting purposes.
“In order for the world’s farmers to transition to regenerative agriculture and create a scalable climate impact, the financial rails to support and pay them for it need to be built,” says Simon Haldrup, co-founder and CEO of Agreena.
“Agreena is building out technological and financial services infrastructure throughout the agriculture value chain as the industry increasingly becomes a focal point for decarbonisation efforts.”
The Series B round also featured participation from new investors including AENU and Anthemis, and additional existing backers Gullspång Re:food, Kinnevik and Denmark’s Export and Investment Fund.
The fresh funding comes a year after the company raised €20 million in its Series A round. Since then, Agreena claims to have expanded its geographic footprint to cover farmland in 16 European countries and helped transition more than 600,000 hectares towards climate-positive, regenerative farming.
With the new cash, Agreena plans to expand its carbon farming initiatives and develop new fintech solutions, including “using sustainable blockchain technology for enhanced traceability and transparency of carbon credits, and e-money and smart contracts to facilitate payment exchanges between climate-conscious corporates and farmers with immediate reconciliation at scale”.