Diginex, the disruptive impact technology company helping to solve the world’s most pressing ESG and sustainability challenges, has closed a $6m Series A round led by Fitch Ventures, the equity investment arm of Fitch Group, bringing the total amount raised to over $8m. The funding round will enable Diginex to continue development of its blockchain-enabled SaaS products as well as deepen its global digital distribution channels.
Founded in 2017, with a global team of technology and impact experts, Diginex is growing rapidly and is a technology partner to major organisations around the world including Microsoft, Coca-Cola, the US State Department, the World Economic Forum and the United Nations. Its products and platforms, including DiginexESG, stand out as a new approach to sustainability reporting, as investor demand continues to increase and new regulations threaten to leave behind non-compliant businesses. By using the latest innovations such as blockchain technology and AI to manage and validate data, Diginex makes ESG reporting more affordable and accessible to companies of all sizes.
Shea Wallon, Managing Director at Fitch Ventures said, “Fitch is the only credit rating agency with a comprehensive, systematic & credit-focused approach showing how ESG factors affect credit ratings. It’s through this lens that we are excited to back Diginex as the team drives the business forward to offer ESG reporting solutions that work for companies of all sizes. It’s a hugely exciting opportunity for us and we are very proud of our involvement in this purpose driven business.”
Andrew Steel, Global Group Head of Sustainable Finance at Fitch Group commented, “The ESG market continues to grow and innovate at a rapid pace but, with taxonomies still evolving, harmonization of standards remains a challenge. Diginex’s product platform is a significant market enabler for companies seeking to gather, manage and disclose ESG data and for investors seeking better quality consistent ESG information. We are tremendously excited about the products currently being offered and those under development by Diginex.”
Miles Pelham, Founder and Chairman of Diginex added, “We are delighted to have Fitch Ventures partner with us as Diginex continues to grow, sharing our vision to make ESG reporting effortless as it moves into the mainstream. Earlier this year, we launched the DiginexESG platform, which provides an accessible and transparent tool for companies to identify and report on key areas of materiality against the world’s most recognised frameworks. This latest funding round will enable us to continue bringing new technologies that help businesses deliver on their sustainability goals, including with our latest DiginexClimate platform which helps companies manage their carbon footprint on their path to net zero.”
As part of this next phase of growth, Dr. Tomicah Tillemann, outgoing Executive Director of the Digital Impact and Governance Initiative at New America and former senior advisor to Joe Biden and Hillary Clinton, has joined Diginex as a Board Director. (See separate press release for further details.)
Notes to editors:
Diginex is a disruptive impact tech businesshelping organisations to address the world’s most pressing sustainabilityissues, utilising the latestblockchain technology to lead change and increase transparency.
Diginex’s frontier-pushing SaaS products are used by bothcompanies and governments to tackle challenges including supply chainmanagement, labour rights, due diligence, and corporate environmentalresponsibility. Its technology provides businesses who want to do better withthe tools that both help them be more responsible, and to realise thecommercial benefits of ESG, including greater efficiency, reduced corporaterisk, and increased ability to attract and secure investment. By using itstechnology to understand the impact of their operations, organisations canfuture proof their business models and accelerate growth, while contributing toa better future.
FitchVentures is the equity investment arm of Fitch Group, a global leader infinancial information services with operations in more than 30 countries. Withdual headquarters in London and New York, Fitch Group is owned by Hearst.
FitchVentures makes equity investments in innovative and emerging technologycompanies in the rapidly evolving financial services industry to help acceleratetheir commercial growth. Portfolio companies benefit from the strategic supportand expertise of Fitch Group and Hearst.
diginexLUMEN sets a new standard for scalable and affordable due diligence by empowering brands including The Coca-Cola Company and Reckitt
The partnership means the companies can now offer ESG Verified Sustainability Reporting Assurance (SRA) services