ClimateTrade closed a €7 million Pre-Series A backed by Amasia, Conexo Ventures, ClearSky, Borderless Capital and Algorand.

ClimateTrade, a Valencia, Spain-based software developer of a blockchain-marketplace for CO2 carbon offsetting, announced securing a €7 million ($7.9M) Pre-Series A equity funding round.

The money was raised via a convertible note that was contributed to by investors including Conexo Ventures, ClearSky, Borderless Capital, Algorand, SIX FinTech Ventures, Wayra, Omron Ventures, Amasia, and Zubi Capital.

ClimateTrade, founded in 2017 by Francisco Benedito, José Lindo, Juan Boluda, Pedro Ramon and Lopez Garcia, developed a blockchain-enabled platform that provides companies with a method of achieving their decarbonisation goals through carbon offsetting. Customers include Iberia, Melià Hotels, Cabify and Telefónica, as they get access to a marketplace where they can  directly offset their carbon footprint by selecting the most suitable carbon credits, along with the records of all their transactions in a private dashboard.