Carbonplace Secures $45 Million In Seed Funding, Announces New CEO 

Carbonplace Secures $45 Million in Seed Funding, Announces New CEO - Carbon Herald
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Carbonplace, a UK blockchain CO2 offset transaction network, has raised $45 million in an investment round that included nine banks with $9 trillion in assets under management in total. The banks that financed the seed round include BBVA, BNP Paribas, CIBC, Itaú Unibanco, National Australia Bank, NatWest, Standard Chartered, SMBC, and UBS. 

In a press release from Feb. 8, the company also announced it will become an independent entity based in London and will be led by new CEO Scott Eaton.

 The blockchain network said it will use the financing to scale its platform and team and accelerate partnerships with other CO2 market players, including registries and stock exchanges across the globe. 

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“With Carbonplace, we are transforming the way that carbon credits are bought, distributed, held, and retired,” said Scott Eaton. “I am excited to take this company to the next level of its evolution, and to help unlock its massive potential to drive significant economic and social value by opening the carbon markets up to the world.”

Carbontrade has already piloted trades with several buyers, sellers, registries, and exchanges, including Visa and Climate Impact X. 

“Carbonplace creates an efficient and secure network for carbon credit transactions,” said CEO of NatWest Markets Robert Begbie adding that McKinsey estimates show that the global demand for voluntary CO2  credits will likely increase by a factor of 15 in the next seven years. “To meet that demand, Carbonplace is delivering a reliable, secure ,and scalable technology that will form a crucial part of the infrastructure for carbon markets to drive climate action at scale.”

Carbonplace’s newly announced CEO Scott Eaton has more than 30 years of experience in financial services, including in corporate finance, trading structured credit, and fintech. Most recently he was CEO of capital markets automation startup Nivaura. He has also held senior roles at ABN Amro, Royal Bank of Scotland, Deutsche Bank and UniCredit. 

Read more: AirCarbon Exchange Receives $15M Investment

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