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Tenity Climate Fintech Incubation Program celebrates graduation of pioneering startups at Latitud59

May 30, 2023

Tenity, a global innovation ecosystem and early-stage investor, is proud to announce the graduation of the first cohort of its unique Climate Fintech Incubation Program in the Nordics and Baltics. The graduation ceremony took place at an investor demo day during Latitude59, Estonia's leading startup conference, where these ground-breaking startups showcased their innovative solutions.

The Nordics and Baltics have been leading the way in sustainable and impact tech globally, with a vibrant ecosystem, strong governmental support, and numerous initiatives. In Tenity's soon to be released Climate Fintech Report 2023, the whole Nordics & Baltics region accounts for more than 10% of climate fintechs identified globally. In 2022, these startups have attracted more than $200m USD in funding, making up approximately 10.5% of global funding* in the sector (*funding data based on the startups including in the database & with publicly available funding information).

Tenity launched the world's first Climate Fintech Incubation Program in November 2022 across the Nordics & Baltics. The demo day, held during Latitude59 in Tallinn welcomed more than 70 investors, corporates, and ecosystem members to see this pioneering cohort graduate.  

We are excited about the progress they've made since starting the program," says Anders Norlin, Tenity’s Head of Nordics & Baltics. “The startups transitioned from great ideas to much more viable customer, and investment, ready companies. Furthermore, stimulated by all key introductions into the Nordics and Baltics sustainability ecosystem along the program, and gained confidence from our workshops, we are very keen to continue our support as they now enter our international alumni network.”

One of the key ingredients of the dedicated program, was the insights, and shared experiences, from established and prominent climate fintechs in the region, such as Doconomy.

“At Doconomy, it has always been at core, to learn from others, and to assist those trying to follow us in our steps. We’re super excited to support everyone in their growth journey tackling the climate crisis,” says Mathias Wikström, CEO at Doconomy.  

For Tenity’s coming programs in the region, climate fintech will maintain as an important focus area, and where Doconomy will continue their support. Doconomy is the market leader in providing individuals and corporations with innovative tools enabling efficient ways to reduce environmental impact, all with the purpose to drive climate action globally.

Azzera, from Canada, is focused on serving hard-to-decarbonize industries by providing emissions measurement and a user-friendly integrated environmental marketplace. Their technology calculates emissions directly and supports carbon off set purchases instantly – as a one-stop shop for customers needing readily available climate solutions.

Eljun, from Sweden, has a vision of making it easier and more profitable to choose eMobility, with a uniform payment system that makes sustainability easy and profitable. They aim to provide a transparent, and secure, payment service for all e-mobility, including EV-charging and public transportation, for everyone, from any location.

GreenGrowth, from the UK, is on a mission to empower people to invest for a more sustainable world. As a wealth tech SaaS provider, they empower green wealth management. Their software platform enables financial advisors and wealth managers to construct bespoke ESG portfolios for clients and analyze their impact on the climate.

OCO, from Lithuania, offers an automated carbon footprint calculation solution for primarily banks and financial institutions. With OCO, they can track, measure and analyze carbon-intense activity among all their clients, in real-time, fully integrable with EU taxonomy.

Spritju, from Sweden, provides a platform service to guarantee the origin of electricity consumed by any device at any time, at any location. By that, Spritju empowers B2B services to meet their customer’s demand for sustainable solutions, and transparency.

Weather It Is, from Israel, offers an innovative forecasting technology for insurance risk management. With very accurate forecast modelling, it enables organizations to make weather-intelligent decisions, reducing risks, and maximizing business returns.

Xworks, from the UK, offers a SaaS data platform that enables transparent waste trading, with end-to-end regulatory compliance. This will support businesses in their sustainability work, and at the same time create business opportunities.

The startups presented their solutions to a large audience during Latitude59, highlighting the impact and potential of climate fintech.