© WeeFin
It was voted best fintech of 2023 by France Innovation and places sustainability at the heart of its activities. Today, we invite you to discover 6 facts about WeeFin, a particularly promising French start-up.
Two of WeeFin's co-founders met on the GR20, in Corsica
Grégoire Hug and Pierre Bittner met on the GR20 trail in Corsica, renowned for its difficulty and the beauty of the landscapes that dot it. Between two stages, they discuss the world of finance from which they each come. ” Our observation was that finance was not necessarily playing its role of supporting the real economy and that it was not transparent to the world around us “, confides Grégoire Hug, co-founder and CEO of WeeFin.
They then imagined how technology could help transform investment practices, in particular by harmonizing the multitude of data necessary for financial players to make informed choices in their investments. Very quickly, the two men were joined by Marion Aubert and Sabrine Aouida. WeeFin was founded in 2018.
WeeFin specializes in sustainable finance
The company specializes in integrating sustainability into the heart of financial investments. In concrete terms, it helps professional investors manage their ESG (Environmental, Social and Governance) data and maximize their impact.
Its goal is to support financial institutions in “making sustainable finance” on a large scale, without requiring additional expenses. The start-up directs its clients' investments towards long-term sustainable projects and activities, taking into account their impact on the environment and society.
In this way, they become more demanding in their investments. This concerns, for example, “the application of coal exclusion policies, the consideration of gender equality criteria when making a loan to a company ”, explains the manager, formerly of BNP Paribas.
It offers a modular platform to its clients
Thanks to WeeFin, financial institutions can integrate these various counterparties into their systems and scale them up. Its platform, marketed as SaaS (software as a service), breaks down the entire sustainability lifecycle: ” integrating data, performing calculations, managing regulations, engaging the companies in which we have invested “, explains Grégoire Hug.
200% Deposit Bonus up to €3,000 180% First Deposit Bonus up to $20,000Customers choose the modules that interest them, which then influences the license offered by the start-up. WeeFin nevertheless stands out for its business model. ” Even if customers undertake demanding things and have increased activity on our platform, our pricing remains stable “, promises the CEO. Its platform is connected to a large number of data sources concerning ESG themes, from NGOs or States for example.
WeeFin responds to increased demand
While sustainable finance initially developed in the 2000s, the sector has really exploded since around 2015. In Europe, the Sustainable Finance Disclosure Regulation (SFDR) which came into force in 2021 has further accelerated this trend.
The legislation aims to increase transparency in the financial sector regarding sustainability. In addition to potential financial or legal sanctions, companies that do not comply risk seeing their reputation tarnished, leading to a loss of trust from investors and customers. They also risk losing access to certain markets or investment opportunities.
As a result, the sector in which WeeFin operates is becoming increasingly competitive. Enough to further motivate the young company to improve its product, assures Grégoire Hug.
WeeFin has raised 7 million euros in 2023
WeeFin has completed a 7 million euro Series A funding round in 2023, after having already raised 2 million euros the previous year. “We have a combination of investors from the world of impact and tech“, explains the co-founder.
Now, the company is thinking big. It intends to conquer new markets and, above all, establish itself as a “European leader,” he reveals. In addition to France, it is now present in England, Luxembourg and Italy. The start-up plans to hire more than 100 people by 2025 to achieve its goal. A plan that has earned it a ranking in the Tech500 of the companies that recruit the most in the technology industry. WeeFin currently has more than fifty employees.
WeeFin recently joined the new Impact120 index of the Impact France Movement
Launched on March 26, 2024, the Impact120 index aims to highlight French start-ups with a strong social or environmental impact. ” This is a very important recognition because it shows us that we are not just a technology company. We have dedicated our technology to doing better for the planet ,” says the executive.
WeeFin is currently opening an office in London to strengthen its activities there. “ Sustainability is becoming the norm. We aim for our platform to become the reference for any financier who wants to do sustainability on a large scale », concludes Grégoire Hug.
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