CarbonPool, a Zurich, Switzerland-based carbon credit insurance company, raised $12M in funding.
The round was led by Heartcore Capital and Vorwerk Ventures and included HCS Capital, Revent Ventures and others.
The company intends to use the funds to accelerate investment in carbon credits.
Founded by former Allianz executives Coenraad Vrolijk, Nandini Wilcke and Frederic Olbert, CarbonPool provides credit insurance with claims payments made in-kind, ensuring companies can guarantee the carbon credits that they buy actually materialize. The premiums collected from each client are invested, alongside CarbonPool’s own capital, into high quality carbon removal projects, to enable claims payments in-kind. The company’s insurance license application is underway in Switzerland, and CarbonPool is already offering assessments and pre-underwriting agreements to clients including corporations, institutional investors, and carbon removal developers. It is also in conversation with government bodies, including the United Nations and the State of California.
FinSMEs
29/01/2024