Climate tech company FISA launches all-in-one ESG software
Munich/Kassel. June 24, 2022. Financial Software Architects GmbH (FISA) receives seed funding of a seven-digit sum for its all-in-one ESG software Envoria (Environment Social Governance). The round is led by experienced investors from the sustainability, regulatory and consulting sectors. Venture capital firms Brandenburg Kapital, a subsidiary of Brandenburg’s development bank ILB, Bavarian Sustainable Capital and fino ventures participated.
New, comprehensive disclosure requirements for sustainability metrics are at the top of the European Commission’s agenda, and thus of more than 200,000 affected companies. Rules and regulations ranging from the EU taxonomy to the supply chain due diligence law to the binding calculation of greenhouse gas emissions are forcing companies to collect, qualify and disclose data from the areas of environment, social affairs and corporate governance. However, the timely fulfillment of these disclosure obligations presents companies with enormous challenges, not least in view of complex and constantly updated regulations.
FISA’s declared mission is to offer Envoria as a simple, flexible and yet comprehensive solution that enables companies to map all requirements across industries.
“With Envoria, we already fully cover all the regulations that have been adopted, whether EU taxonomy, European Sustainability Reporting Standards (ESRS) or supply chain legislation. Envoria is modularly designed as an all-in-one solution and can be flexibly adapted to a company’s individual needs without any programming knowledge. In addition, our team of auditors and developers ensures that new regulations are covered in a legally compliant manner as soon as they become effective,” says Sven Schubert, CEO and co-founder of FISA.
The SaaS solution is designed to cover the entire process from data collection and report generation to updating in subsequent reporting years. At the same time, extensive help is integrated to enable a safe and fast way to audit-proof ESG reporting even for newcomers.
“The spirit of the team and the relevance of Envoria in the context of ESG legislation convinced us immediately. This means we can once again deliver the best-in-class solution of proven quality to our partners at banks, insurance companies, auditors and tax advisors. Especially the network effect of our open solutions will ensure that the many affected companies associate an advantage and benefit instead of a burden with EU taxonomy and ESG”, explain Florian Christ and Michael Sindram, managing directors of fino ventures.
FISA employs more than 20 people in Munich and Potsdam and intends to use the funds received to strengthen its development team and build up a sales network.
About Financial Software Architects GmbH:
Financial Software Architects GmbH launched in Munich in 2018 with two SaaS solutions, Contavio and Envoria. Contavio is a software for efficient and audit-proof contract management and reporting according to the International Financial Reporting Standards (IFRS) 15 and 16. The Envoria software supports companies in meeting disclosure requirements around new sustainability standards under the EU Green Deal. Envoria is one of the few solutions certified by the GRI (Global Reporting Initiative). At the same time, as an all-in-one solution, it meets the requirements of the CSRD (Corporate Sustainability Reporting Directive), SASB (Sustainability Accounting Standards Board) and the Act on Corporate Due Diligence Obligations in Supply Chains. FISA has already been able to win renowned DAX companies and well-known companies in the European Union as customers. In addition, close partnerships have been established with auditing firms and consultancies in order to take regulatory adjustments, audit requirements and practical problems into account in the solutions and to support customers in joint projects during implementation.
Further information: envoria.com
About Brandenburg Kapital GmbH/ ILB:
Brandenburg Kapital GmbH is a subsidiary of Investitionsbank des Landes Brandenburg (ILB). Since 1993, as the venture capital arm of ILB, it has supported Brandenburg-based companies by acquiring equity stakes and investments similar to equity stakes. As a public venture capital company, experienced lead investor and active partner, Brandenburg Kapital ensures a strong equity base for start-ups and small and medium-sized enterprises in the state of Brandenburg on the basis of a stable group environment. The early-stage and growth fund is currently available for this purpose in the amount of around 100 million euros. The funds for the Brandenburg Kapital fund, which was set up on behalf of the Brandenburg Ministry of Economics, are currently provided by the European Regional Development Fund and ILB’s own resources. Through ILB’s investment activities, 244 companies have so far been supported on their growth course with around 275 million euros. In addition, private investors have invested more than 600 million euros in the companies to date.
Further information at: www.brandenburg-kapital.de
About Bavarian Sustainable Capital GmbH:
Bavarian Sustainable Capital, based in Munich, has been supporting young, ambitious companies that contribute to a sustainable future as a venture capitalist and partner since its founding in 2019. Bavarian Sustainable Capital invests its own funds for this purpose and works in partnership with its investee companies.
About fino ventures GmbH:
fintech company fino was founded in Kassel in 2015 and is a provider of innovative B2B SaaS business models. fino develops solutions that inspire people and sets standards through digital and data-based business models in the areas of bank account mining (FinTech), invoice management, document analysis (DocTech), KYC/money laundering (RegTech) and property tax (TaxTech). Through fino ventures, fino is continuously expanding its data ecosystem through strategic investments and provides entrepreneurial support to young startups as a mentor, business angel or impulse provider on all topics related to founding, business model and scaling.
Further information at: www.fino.group and www.fino.ventures
Your editorial contacts:
Financial Software Architects GmbH
Sven Schubert
Tel: +49 89 9974 0901 0
Mobile: +49 170 7789555
Email: sven.schubert@envoria.com
envoria.com
fino ventures GmbH
Michael Sindram
Tel: +49 561 827904 10
Mobile: +49 173 4038202
Email: Michael@fino.group
www.fino.ventures
good news! GmbH
Nicole Gauger
Telefon: +49 45 188199-12
Mobile: +49 172 4500753
Email: nicole@goodnews.de
www.goodnews.de
