Exclusive: Enmacc secures double-digit million amount

The start-up offers a digital trading platform for gas and electricity. It has now closed its Series B financing round.

The German tech start-up Enmacc, headquartered in Munich, has successfully completed its Series B financing round. The company was able to raise a double-digit million amount from investors, as Startbase learned in advance. The financing round was led by Klima Energy Transition, a €210 million VC fund. Chevron Technology Ventures and existing investors, including Piton Capital and the 10x Group, are also involved.

The Munich-based start-up was founded in 2016 and offers a digital trading platform for gas and electricity. It aims to present itself as an alternative to brokers and exchanges and, according to its own information, is already the largest trading platform for gas in Europe for over-the-counter (OTC) transactions. This means that participants can carry out over-the-counter futures trading via Enmacc.

According to the start-up, more than 240 German municipal utilities, energy suppliers and other companies are already using the platform, with well over 450 across Europe. The start-up now wants to invest the investors' capital in expanding the platform in order to "extend its leading role".

CEO Jens Hartmann sees an opportunity in the current crisis: "The current energy crisis shows that energy trading needs to evolve. It must become more digital and promote the diversity of market structures. The energy transition can only succeed on the basis of efficient markets that provide economic incentives for decarbonization."

Bastian Gambini, Managing Partner at one of the investors, Klima Energy Transition, sees Enmacc as being at the forefront of precisely this transformation: "Enmacc has transformed gas and electricity trading digitally in an impressive way, quickly winning over a large customer base in a conservative market," he says.