As demand for tangible action on environmental and social issues ramps up, Greenspark has raised about €1.1 million for its Impact-as-a-Service platform. The London-based startup is enabling businesses to take action whilst boosting key metrics at the same time.
Impact-driven businesses are on the rise. It seems that finally more business leaders see the power they hold to make a positive impact, and at the same time, consumers and employees are now more aligned with sustainability and impact-focused businesses than ever before. Job seekers are prioritising the company’s impact ratings when looking for their dream job and consumers are keeping it in mind when parting with their cash. At the same time, startups and businesses with impact embedded in strategy are proving more popular with investors.
While it’s pretty clear that taking action on global issues is a good thing to do and makes a business more attractive, the question remains as to just how to go about it.
London-based Greenspark wants to tackle this. The startup has just secured fresh funding to scale its innovative Impact-as-a-Service platform and lead positive change in this space.
Funding details
- About €1.1 million was raised in Seed funding
- The round was led by Fuel Ventures, alongside Pitchdrive, 1818 Venture Capital, Zone2Boost, Great Stuff Ventures, QC-Ventures, and Boost Fund
- Existing investors include Anthemis, BBVA and Perivoli Innovations
Lenny Leemann, co-Founder and CEO: “At Greenspark, we’re on a mission to tackle some of the greatest issues facing our planet right now, like climate change, deforestation and plastic pollution. We believe that collectively we have the power to address these major threats head-on. We’re bringing a whole new approach to tackling world issues through tools that are not simply altruistic but make business sense. By proving the economic value of sustainability, we truly believe we can make a huge difference in the world.”
Founded in 2020, Greenspark encourages companies to take action on environmental and social issues around the world by giving them the tools to maximise their impact. And it does so whilst also enhancing traditional business metrics.
The Impact-as-a-Service platform allows companies to create a positive impact at key business touchpoints, track its growth in an easily digestible way, and then communicate it effectively with their customer base, site visitors and key stakeholders
Through direct integrations with platforms such as e-commerce solutions, payment providers, and marketing suites, businesses are able to create tangible and engaging climate action such as planting trees, preventing ocean-bound plastic and offsetting carbon emissions on behalf of their audience.
Not only does the company want to empower a new era of impact-driven business, but it is also helping to boost traditional business goals. So far, clients have reported rises of over 10% in online conversion rates, 80% uplifts in new subscriber rates, and 133% growth in reviews left when a positive impact is made on behalf of the customer.
So far, the startup has facilitated the planting of over 800k trees and prevented over 1.3 million plastic bottles from entering the ocean and become part of the sustainability strategy for over 300 businesses.
Wim Derkinderen, Managing Partner at Pitchdrive: “Greenspark makes positive impact more attractive for businesses, which is a very hard nut to crack. We were highly impressed with the founders and what they already proved, and can’t wait to see what Greenspark will become over the upcoming months and years when taking care of our environment becomes more urgent than ever before.”
With this new funding, the impactful innovators plan to expand their reach with the launch of a Climate API, new impact types and omnichannel integrations all on the horizon.
Mike Stevenson, Fuel Ventures: “Greenspark is the latest impact-driven business to the Fuel Ventures portfolio, and we couldn’t be more excited to be backing experienced founders Lenny and Matt in executing their vision to enable positive climate action with every transaction.”
