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.

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

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 through which so-called OTC (over-the-counter) transactions take place. This means that participants can conduct 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, and there are said to be well over 450 across Europe. The start-up now wants to put the investors' capital into expanding the platform in order to "extend its leading role."

CEO Jens Hartmann sees the current crisis as an opportunity: "The current energy crisis shows that energy trading must 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, obviously sees Enmacc at the forefront of precisely this transformation: "Enmacc has digitally transformed gas and electricity trading in an impressive way, quickly winning over a large customer base in a conservative market," he says.