German Investor CommerzVentures Raises $334M to Boost EU FinTech and Insurtech Startups

FinTech investor CommerzVentures has closed a 300 million euro ($334 million) funding round designed to support companies in the FinTech, InsurTech and climate FinTech sectors.

The round, announced Tuesday (March 1) on the German company’s website, brings the total funding under management to 550 million euros ($612 million).

The launch of the fund — CommerzVentures’ third — will see the organization grow its headcount by 50%, “enabling them to strengthen their position in fintech globally, and establish a foothold in new geographies, notably Africa.”

Read more: CommerzVentures, Coinbase Ventures Part Of Curv’s $23M Fundraise

The company said it has seen 30% of its early investments turn into unicorns — startups valued at more than $1 billion — including two decacorns (eToro and Marqeta).

CommerzVentures also calls itself the first firm to define the term “climate FinTech,” and has led investments with ClimateView and Doconomy, a Swedish company that has worked with Mastercard to help consumers calculate the carbon footprint of their shopping habits.

See also: Mastercard Launches Tool For Banks To Help Consumers Calculate Carbon Footprint

As we reported last year, the Mastercard Carbon Calculator has become part of the company’s global network and is customizable to suit the needs of banks’ eco-conscious customers.

Mastercard says its research has found sustainability on the minds of people post-pandemic, with 54% saying that preserving the environment is more important now than it was before COVID-19. The company’s data also pointed to a growing trend of eco-consciousness when it comes to spending and consumption.

“As the pioneering investor in European Climate FinTech, we feel an obligation to support all our portfolio companies on their path towards carbon neutrality,” said CommerzVentures Partner Paul Morgenthaler. “With our access to high-quality carbon offsetting projects, we can help them to make credible net-zero commitments, while working on emission reductions.”