CMS advises Frankfurt climate change fintech right. based on science on pre-Series A round of financing

Frankfurt/Main – GLS Gemeinschaftsbank eG has taken a stake as a new investor in Frankfurt climate change fintech right. based on science GmbH. The existing investors, comprising several business angels and Solactive AG, also joined the pre-Series A round of financing along with GLS. right. based on science plans to use this fresh funding for rapid expansion of its software functionality and applications. Furthermore, the self-developed XDC metric is to be integrated into other information systems via programming interfaces (API).

A CMS team from the Frankfurt office consisting of Dr Florian Plagemann and Dr Joachim Dietrich advised right. based on science on all legal aspects of the pre-Series A financing round. right. based on science is a member of equIP, CMS’s own start-up support programme, and was advised by CMS in the previous round of financing. The aim of the CMS equIP programme is to support start-ups and young innovative companies in the digital and tech industry and enable them to become strong contenders for Series A financing. To achieve this, CMS provides firms with comprehensive legal advice while engaging with their entrepreneurial objectives.

right. based on science is headquartered in Frankfurt am Main. Its activities include developing software for calculating an undertaking's impact on climate change. This enables clients to establish the contribution of their company or portfolio to climate change. The results are expressed as an easy-to-understand °C figure.

Bochum-based GLS Gemeinschaftsbank eG is a cooperative bank and describes itself as the world’s first ecobank. GLS Gemeinschaftsbank is a member of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (National Association of German Cooperative Banks) and is covered by its deposit protection scheme.

CMS Frankfurt

Dr Joachim Dietrich, Partner, Frankfurt/Main
Dr Florian Plagemann, Counsel (Co-Lead), Frankfurt/Main, both Corporate/VC

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