ESG Start-up Nossa Data Closes £300k Pre-seed Round
London-based Nossa Data makes it easy for companies to stay on top of their Environmental, Social and Governance (ESG) needs. The fintech company has recently raised £300,000 in pre-seed funding from SFC Capital, the Barclays Accelerator, powered by Techstars program and angel investors.
The company was founded in June 2020 by Julianne Sloane and Irina Dumitrescu to address a growing need for companies to more easily manage ESG related requests from investors.
As an industry, ESG is going through a massive growth spurt and has moved from a ‘nice to have’ to a ‘must have’ for all businesses. The problem though, as Co-founder and CEO Julianne, states, “For many companies, this is the first time they have needed to prepare this information and they are operating at a disadvantage as compared to investors.”
ESG is one of the fastest growing trends in finance – it is used to assess a company’s performance on a variety of factors spanning staff diversity and emissions to health and safety protocols. “Everyone is scrutinising companies about their ESG information, it is coming from investors, regulators, customers and even employees,” explains Julianne. “Investors are looking at more ESG information than ever before – they get access to ESG rating agencies, AI analytics and even have their own proprietary data models. Meanwhile, companies are completely left in the dark trying to figure out how to best package their data via complicated systems of emails, spreadsheets and PDFs.”
Nossa Data brings companies back into the light by consolidating all of their ESG needs into a single place so they know exactly what they need to do and how they compare to others. The team worked alongside investor relations teams at two large publicly listed companies to develop their SaaS platform and now have dozens of conversations going with both public companies and large private companies in the UK, Europe and North America. Their newly raised funds will be used to expand the team and improve the product offering, doubling down on their mission of showing the world how companies will interact with people and the planet. The funding from Barclays comes as part of Nossa Data’s participation in the Barclays Accelerator, powered by Techstars unique programme which supports the very best in FinTech startups to scale their businesses.
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.
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About Nossa Data
Nossa Data is a technology prodict that simplifies ESG reporting, data management and analytics for corporates. Founded in 2020, the team is based out of London and is focused on a simple mission: To provide companies with technology that revolutionises how they manage and report on their environmental, social and governance measures.
For more information about Nossa Data, please visit: nossadata.com