Banyan Infrastructure, a San Francisco, CA-based company that provides a sustainable financing software platform, announced that it raised $25 million in Series B funding, bringing its total funding to over $42 million.
The round was led by Climate software investor Energize Ventures, with participation from new investors SE Ventures and Elemental Excelerator, and existing investors VoLo Earth and Ulu Ventures.
With this new investment, Banyan plans to more than double its headcount and further develop the company's proprietary software.
"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. "The support from Energize and our new investors helps unlock the rapid deployment of sustainable infrastructure that our planet needs."
Banyan unlocks capital for renewable infrastructure by making sustainable project finance fast, efficient, and scalable. Its purpose-built project finance software enables banks, financiers, and developers to automate and track complex project finance transactions with a unified risk and data management system.
The company’s technology solves critical pain points by replacing spreadsheets, emails, and varied documents with digitized loans and workflows in addition to automating data ingestion, risk monitoring, and contractual compliance for each loan. The result is faster financing and greater capital deployment with more efficiency, scale, and liquidity across the deal lifecycle.
To date, Banyan is enabling billions of sustainable infrastructure investments across seven countries and thousands of projects. Juan Muldoon, a partner at Energize, has joined Banyan's board of directors.
Company: Banyan Infrastructure Corporation
Round: Series B
Funding Month: March 2023
Lead Investors: Energize Ventures
Additional Investors: SE Ventures, Elemental Excelerator, VoLo Earth, and Ulu Ventures
Company Website: https://www.banyaninfrastructure.com/
Software Category: Finance Software
About the Company: Founded in 2018, Banyan Infrastructure is a purpose-built project finance software designed to simplify, accelerate, and optimize the financing of sustainable infrastructure across the full life cycle. Built by prior project financiers specifically for banks, investors, and developers, the platform helps to replace spreadsheets, emails, and pdfs with digitized loans and workflows, automating data aggregation and compliance tracking. This enables streamlined origination, servicing, and securitization of renewable energy loans and investments at higher volume and lower cost. Banyan Infrastructure experienced 700% year-over-year growth over the past year, securing partnerships with leading customers in infrastructure lending, investing, and development, including SMBC and Standard Solar.