Series B: WeeFin raises €25 million and aims to become the European leader in ESG data management for major financial institutions.
New momentum for WeeFin (and the first portfolio company to reach Series B for Asterion). Less than eighteen months after its last round, the fintech specializing in sustainability data management for financial institutions announces a €25 million Series B. The round was led by BlackFin Capital Partners, with continued support from existing investors IRIS, Ring Capital and, of course, Asterion Ventures. The goal: solidify its position in Europe and keep raising the bar for sustainable finance.
A promising startup that has become a key player in sustainable finance
Since launching its platform in 2021, WeeFin has built a strong reputation among financial institutions seeking transparency and efficiency in their ESG strategy. Its promise? A SaaS solution that centralizes all the data needed to manage environmental and social commitments.
And the numbers speak for themselves:
WeeFin now has more than 40 clients, representing €6,878.5 billion in assets under management (a 10x increase in 2 years). Over the same period, the share of revenue generated internationally has grown from 0% to 30%. Annual recurring revenue has increased 5x (again, since 2023). Headcount has doubled—now at 80—with the goal of surpassing 100 by year-end.
After a successful international expansion into Luxembourg and Italy, the fintech opened a UK office a few months ago—following its Series A—allowing it to move into the next league.
A new funding round to accelerate across Europe
But with this Series B, WeeFin is raising its ambitions even higher. The funding will be used to enhance the platform with new features, including a dedicated sustainability performance attribution solution and the integration of new data sources.
At BlackFin, they say they're convinced by the fintech's potential. "WeeFin has won over the largest asset managers and proven the value of its platform, including in complex markets like the United Kingdom. We're eager to support them through this new growth phase," says Julien Creuzé, Partner at BlackFin.
For his part, Grégoire Hug, co-founder and CEO of WeeFin, sees this round as validation of the company's model: "We've always been convinced that sustainability would become a strategic priority for financial institutions. This new funding gives us the means to accelerate further and continue innovating."
A familiar trajectory for Charles-Henry Choël, partner at Asterion Ventures and WeeFin board member: "Nearly 25 years ago, I started working at a startup focused on dematerialization for stock exchanges… Within a few years, we went from a small team of a few dozen employees to becoming a global leader. I'm convinced WeeFin is on a similar path: since France is ahead of the curve on sustainability, a company that has proven itself here is ideally positioned to take on European leadership. And then, given that Europe is very likely to pull ahead of the rest of the world in the current turbulent context…"
The goal is clear: become the go-to tool for sustainable finance in Europe. With this Series B, WeeFin now has the means to match its ambitions.