European ESG Regulations Drive Apiday’s Growth in Sustainability Compliance Solutions
In Europe, ESG reporting has transitioned from optional to mandatory under new regulations. This shift has provided a significant opportunity for startups like Paris-based Apiday. Targeting private equity funds and large corporations, Apiday’s platform helps track and navigate sustainability practices.
The Sustainable Finance Disclosure Regulation (SFDR) has broadened the scope beyond impact funds to encompass all firms, intensifying the demand for ESG reporting. Despite criticisms highlighted by CEO Édouard Audi, including those from Elon Musk, Apiday focuses on leveraging ESG for value creation rather than mere compliance.
Recently securing €10 million in a Series A funding round, Apiday plans to expand across Europe, particularly in Germany and the U.K. With clients in 23 countries and a substantial portion of sales outside France, the company aims to enhance its offerings and increase its team size from 40 to 70 employees within the next year.
Apiday differentiates itself through a blend of AI-driven efficiencies and human expertise, setting it apart from both traditional consultants and newer competitors like AlphaSense and Dataminr. The company’s strategic growth aligns with the rising importance of ESG data, expected to escalate further with the Corporate Sustainability Reporting Directive (CSRD).
Partner Stanislas Lot of Daphni, one of Apiday’s Series A investors, emphasizes the increasing significance of ESG data and the actionable insights derived from it. Apiday continues to support its clients with comprehensive ESG roadmaps, encompassing around 350 actionable items aimed at improving sustainability practices beyond compliance.
As Apiday expands its influence among asset management firms and corporate entities, its latest funding round underscores its commitment to driving meaningful change through enhanced ESG performance metrics and strategic insights.
