Erguvan, a self-described climate-fintech startup based in Istanbul, Turkiye has raised an undisclosed figure in a seed round via Emirates NBD and Deniz Ventures at a valuation of $7.33 million. The investment marks the first deployment for ENBD's of a $100 million venture fund announced last year.
Similar to a number of other operators active in the carbon credits and renewable energy certificate (REC) space, Erguvan provides a B2B marketplace for environmental commodities and API-based carbon accounting software solutions to financial institutions and corporates.
According to the company, the fresh investment will pave the way for international expansion.