Opna Secures $6.5M Seed Funding to Revolutionise Carbon Project Financing

September 5, 2023

London-based fintech Opna, formerly known as Salt, has secured a significant $6.5 million in seed funding to bolster its financing platform for global carbon projects. The funding, led by Atomico, aims to enhance awareness of Opna's platform and advance its proprietary risk engine. With participation from notable investors like Cristina Stenbeck and Allison Pickens, Opna is poised to drive impactful change in the carbon market landscape.

In today's climate crisis, businesses worldwide are under increasing pressure to meet net-zero carbon targets. However, despite numerous commitments, many are falling short of their goals. McKinsey reports that 93% of companies are on track to fail in fulfilling their pledges. To bridge this gap, Opna offers a solution by facilitating the financing of carbon projects, enabling corporates to offset emissions efficiently.

The voluntary carbon market (VCM) plays a crucial role in aiding companies' efforts to achieve carbon neutrality. However, trust in this market has dwindled due to concerns over the legitimacy of carbon credits and greenwashing practices. Opna seeks to restore trust by revolutionizing the way companies engage with carbon projects. Instead of purchasing credits, Opna allows businesses to finance prospective carbon removal projects, ensuring transparency and accountability from the outset.

Opna's platform acts as a bridge between corporates and project developers, providing a streamlined process for project discovery, financing, and management. By vetting projects for legitimacy and feasibility, Opna ensures that funds are allocated to high-quality initiatives with tangible carbon benefits. This approach not only strengthens the integrity of carbon markets but also fosters inclusivity by supporting smaller developers in the Global South.

The funding secured by Opna will fuel its mission to expand the availability of trustworthy carbon projects and enhance its platform's capabilities. With plans to increase team size and develop new financing and insurance services, Opna is poised to drive meaningful impact in the fight against climate change.

Opna's innovative approach to carbon financing holds promise in accelerating global efforts towards a sustainable future. By empowering businesses to directly support carbon projects, Opna paves the way for a more equitable and effective climate transition. With the backing of investors and a dedicated team, Opna is well-positioned to lead the charge towards a greener, more resilient world.

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