Global top investors join the fight for the climate when WeDontHaveTime.org closes oversubscribed financing round
The world’s largest social network for climate action raises $3.3 million USD (27.8 million SEK) in its Pre-Series A funding.
18 March 2021, Stockholm — Since its inception only three years ago, Swedish WeDontHaveTime AB (publ) has become the world’s largest social network focused on climate change. Thanks to its self-developed social networking and review platform, the network provides unique features to host a climate dialogue between organizations, businesses, and stakeholders. Today We Don’t Have Time has a monthly social media reach of over 25 million. Among its many subscribing partners are companies and organizations like Ericsson, UNDP, and the Nordic Council.
Participants in the financial round included some of the world’s top investors such as Fabrice Grinda, named #1 Angel investor in the world by Forbes; Jan Ståhlberg, Founder Trill Impact and previously part of the initial team of the global private equity firm EQT, Marco Rodzynek, founder NOAH Advisory and NOAH Conference, Alexander af Jochnick, chairman Oriflame, Pär Nuder, Senior Counselor Albright Stonebridge Group and ex-finance minister of Sweden, Sweta Chakrabory, PhD and founder of Adapt to Thrive and Nick Nuttall, previously Director of communication United Nations Environment Programme (“UNEP”).
Furthermore, We Don’t Have Time is teaming up with one of Europe’s largest investment network NOAH Advisors, and Marco Rodzynek, who will join We Don’t Have Time’s board of directors to fully support We Don’t Have Time in its go-to market approach.
“The only way to halt climate change is by identifying, sharing, and pushing real climate solutions. I am joining We Don’t Have Time, the first social network to protect our natural ecosystems. The ESG data sector is already $1 billion in annual sales. We need to bring this data in front of the consumers to trigger change. We Don’t Have Time curates and aggregates data on corporate behavior around climate change. We need more data as only 0.1% of global assets under management (AuM) are following ESG investment frameworks.
What I have done with NOAH for the digital ecosystem is so comparable to what We Don’t Have Time is doing on sustainability. Many NOAH Conference attendees and friends followed Ingmar Rentzhog’s and my call to come on as partners. Your trust is our motivation to connect the millions of climate professionals and giving them their platform they urgently need”, says Marco Rodzynek, founder and CEO of NOAH Advisors.
WeDontHaveTime's Latest Funding Round
Ingmar Rentzhog, CEO and founder of We Don’t Have Time:
“We are delighted of the quality of investors participating in our latest funding round. Not only are they some of the world’s most influential investors, they are also genuinely engaged in the fight against climate change, and willing to support us with their time, knowledge, and network on our mission to speed up the transition to a sustainable future. The interest of what we do has increased tenfold since we started, and with the help of our investors, our impact will be able to grow exponentially. Our investors realize that We Don’t Have Time to wait”, he says.
One of the investors joining We Don't Have Time is Ph.D. Sweta Chakraborty that already serves on the board and will be responsible for the US division managing the Washington DC office that will open later this year:
"I have been a member of the We Don't Have Time board of directors since last year, and I am thrilled to expand the businesses to the United States. With a new climate-friendly administration in the White House, Washington DC is the perfect place to have physical representation to influence our corporate and political world leaders to take climate action", says behavioral scientist Ph.D. Sweta Chakraborty
All payments have been made in full and the process of registering the new shares with the Swedish Companies Registration Office has been initiated. The new issue of shares directed to non-professional investors was subscribed for by 171 investors (a total of 420,184 new shares), and the new issue of shares directed to professional investors was subscribed for by 24 professional investors (a total of 1,530,920 shares). The company has received in total SEK 27,861,765 ($3 280 360) before costs for the issues.
Following the registration of the new issues of shares with the Swedish Companies Registration Office, the number of B-shares in We Don’t Have Time will increase with 1,951,104 to a total of 6,635,824 B-shares. In addition to above, there are currently 11,550,000 strong voting A-shares with no right to dividend, owned by the main shareholder Stiftelsen WeDontHaveTime Foundation.
The company has in total raised $8.3 million from its 700 shareholders in this Pre-Series A and earlier Pre-Seed rounds.For more information, please contact:
Johannes Luiga, Investor Relations, We Don’t Have Time
+46 – 70-171 24 07
Ingmar Rentzhog, founder and CEO, We Don’t Have Time
+46 – 73 633 29 10
About We Don’t Have Time
WeDontHaveTime AB (publ) is a Swedish establishment registred in Stockholm, Sweden (reg no 559126-1994), operating the social network WeDontHaveTime.org. We Don’t Have Time is a social network for everyone who wants to be a part of the solution to the climate crisis. The power of many enables us to influence businesses, politicians and world leaders. But We Don’t Have Time to wait. Read more about us on wedonthavetime.org/about-us