Sustainable Financing Startup Banyan Infrastructure Grabs $25M in Funding
Banyan Infrastructure, a San Francisco-based sustainable project financing software platform, raised $25 million in a Series B funding round, bringing the company’s total funding above $42 million since its founding in 2018.
Climate software focused Energize Ventures led the all-equity round, with participation from new investors SE Ventures and Elemental Excelerator, and existing investors VoLo Earth and Ulu Ventures.
Juan Muldoon, partner at Energize, has joined Banyan’s board of directors.
Banyan uses its customers’ data to analyze potential returns for different projects and recommends different types of financing structures for project developers.
“Because standardization is lacking for sustainable technology, risk averse investors are hesitant to move quickly in this relatively new industry. Our software focuses on reducing transaction costs and increasing transparency to create previously unseen speed and scale of project finance,” said Banyan Cofounder and CEO Will Greene.
NY Green Bank, a $1 billion sustainable infrastructure investment fund from the New York State Energy Research and Development Authority, has utilized Banyan to support its portfolio management activities.
Despite the Inflation Reduction Act unlocking $369 billion in clean energy funding, investing in complex sustainable infrastructure projects has been hamstrung by manual and inefficient processes. Banyan’s technology attempts to solve these critical pain points.