Herbert Smith Freehills’ Venture Capital team has advised Greener on its A$4 million Series Seed capital raise. The round was led by NAB Ventures with participation by RealVC.
Founded by Tom Ferrier and Neil McVeigh, Greener is an Australian company and a certified B Corporation, that is bringing together people and businesses in a new Green Economy, where every dollar spent is carbon-neutral to help end climate change.
Greener helps consumers to measure their climate impact and reduce their emissions by connecting them with brands doing better for the planet, as well as offsetting their purchases at no extra cost to the consumer. To do this, Greener is providing positive personalised pathways to become greener for businesses starting their journey to net zero emissions, and partnering with like-minded sustainably-focused companies connecting them to more customers seeking to make greener choices and reduce their climate impact.
This new capital will be employed to fund the continued product development, rapid growth and expansion of the company.
The Herbert Smith Freehills team was led by Co-Head of Venture Capital Elizabeth Henderson and solicitor Taseen Rafi, with support from partner Toby Eggleston and senior associate Alistair Haskett.
Neil McVeigh, co-founder of Greener, said, “Much like the sustainability space in general, negotiating and closing investment rounds is complicated work; but at Greener, we’re all about making the complex easy. The team at Herbert Smith Freehills understood this, and did a great job supporting us. With this investment from our partners NAB Ventures and RealVC, we’re excited to be accelerating the growth of our Green Economy and bringing more businesses and consumers on the journey to a carbon-neutral future”.
Taseen Rafi said, “We have been impressed with Tom and Neil’s vision for Greener. It’s great working with a purpose-driven company paving the way for a greener world and showing that pursuit of growth and a social/environmental mission are not mutually exclusive and that growth can drive positive social and environmental outcomes.”
Elizabeth Henderson said, “Congratulations to Greener on closing this raise. It has been great working with Tom and Neil, and being part of Greener’s journey.”
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings in the emerging tech and ESG-focused sectors. Other recent examples include:
- GreenCollar on its investment from KKR, the first in Australia for KKR’s US$1.3 billion Global Impact Fund
- Who Gives A Crap on its A$41.5 Million Series A capital raise
- SafetyCulture on its A$60.5 million Series C1 and A$99 million Series C2 capital raises
- Sonder on its A$35 million Series B capital raise
- Dovetail Research on its US$63 Million Series A capital raise
