Elbow Beach Capital has backed Omnevue, a London-based startup that provides ESG accounting for companies, in a £2.5m seed funding round. Elbow Beach led the round with Pi Labs with support from Zone2boost, and other angel investors.
Omnevue has developed cutting-edge integrated software to deliver audit-grade ESG accounting, think Quickbooks for ESG. The platform’s digital and accessible interface works by collecting a company’s financial data, HR data and other data sources. It then analyses them and produces a report that is comparable with international accounting standards.
Daniel Jeczmien, Omnevue founder and CEO commented:
“Until now, ESG data has not been as highly prioritised as financial data – but with more stringent regulation on the horizon, companies need a trusted solution to report on critical non-financial data in a way that complies with international accounting standards.”
“Integrated accounting, the dual reporting of financial and non-financial data, is set to become the new accounting norm – and Omnevue’s platform and team of chartered accountants leverage cutting-edge technology to deliver accurate ESG performance data in a fully compliant way.”