Emirates NBD has announced an equity investment in Erguvan, a financial technology startup dedicated to equipping financial institutions and corporations with digital solutions to mitigate the impacts of climate change and associated risks.
The investment was executed through Deniz Ventures, the investment fund established by DenizBank A.S. in Turkey, as part of the Emirates NBD Innovation Fund, the corporate venture capital division of the Dubai-based bank. This fund aims to facilitate investments in strategically important fintech and SustainTech startups across Emirates NBD’s core markets, including Turkey.
Erguvan stands out as Turkey’s first and only environmental commodities marketplace. In addition to its marketplace, the company provides a modular carbon footprint management technology through the Erguvan Climate Action Platform, which is seamlessly integrated via an API.
Neeraj Makin, Group Head of Strategy, Analytics & Venture Capital at Emirates NBD, remarked, “Sustainability is rapidly becoming a fundamental aspect of our strategy. We are excited to announce our investment in Erguvan, a pioneering climate fintech venture and Turkey’s first digital carbon credit trading platform. As a leading financial institution in the UAE, we aim to set a global standard for technology-enabled ESG solutions. Investments through our Innovation Fund are key to progressing toward our sustainability goals.”
This investment follows the bank’s recent announcement regarding the launch of a sustainability-themed accelerator program in preparation for COP28. This initiative will invite global green fintechs to present innovative sustainability-focused financing solutions that contribute to a climate-resilient future.