The landscape of ESG reporting is undergoing a significant shift in Europe, transitioning from a nice-to-have to a necessity due to new regulations. This change is opening up opportunities for startups like Apiday, based in Paris, which focuses on serving private equity funds and blue-chip companies seeking to monitor and drive sustainability practices.
Apiday has targeted asset management firms, especially in Europe, as the Sustainable Finance Disclosure Regulation (SFDR) has made ESG reporting essential across the board, not just for impact funds. CEO Édouard Audi has acknowledged the limitations of ESG ratings highlighted by critics like Elon Musk but emphasizes Apiday’s commitment to leveraging ESG for value creation rather than just compliance.
Recently, Apiday secured €10 million in a Series A funding round to expand its presence in a competitive space that includes well-known competitors like AlphaSense, Dataminr, Sesamm, and Truvalue Labs. The company differentiates itself by combining AI technology with human expertise to offer a unique value proposition to its clients.
With a plan to strengthen its foothold in Europe, Apiday intends to open offices in Germany and the U.K., doubling its team size from 40 to 70 employees in the coming year. The company’s international reach and focus on continuous improvement set it apart in the market.
Before venturing into ESG with Apiday, CEO Édouard Audi co-founded ride-hailing company LeCab, where he recognized the importance of ESG metrics that were often overlooked in corporate transactions. As the importance of ESG data continues to grow, Apiday is well-positioned to help companies navigate this evolving landscape.
Apiday offers a comprehensive approach to ESG, providing its clients with actionable roadmaps and over 350 suggested actions to enhance their sustainability practices post-compliance. The company’s Series A investors include AENU, Daphni, Galion.exe, SWEN Capital, Speedinvest, and Revent, signaling confidence in its growth potential.
