UAE's Emirates NBD Invests in Turkish Climate Fintech Startup
Emirates NBD, a leading bank in Dubai, has made an investment in Turkey's Erguvan, as reported by Seban Scaria for Zawya.
Erguvan is Turkey's inaugural digital platform for carbon credit trading, a climate and financial technology startup focused on offering digital infrastructure solutions for financial institutions and corporations to effectively handle climate change impacts and risks.
This investment was facilitated through Deniz Ventures, an investment fund associated with DenizBank A.S. in Türkiye, operating under the Emirates NBD Innovation Fund, which is the Corporate Venture Capital arm of the Emirates NBD Group.
Neeraj Makin, the Group Head of Strategy, Analytics & Venture Capital at Emirates NBD, expressed, “As one of UAE’s leading financial institutions, we are looking to set a global benchmark for technology-driven ESG solutions, and such investments through our Innovation Fund bring us one step closer to achieving our aspirations.”
Furthermore, apart from Erguvan Marketplace, the company provides modular carbon footprint management solutions through the Erguvan Climate Action Platform, which seamlessly integrates using an API-based solution.