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The start-up – backed by the founders of Stripe – has hired a head of Europe and is looking to grow its climate-tech platform in this ‘critical market’.
Climate-tech start-up Watershed has announced today (6 April) that it is creating a co-headquarters in London to expand its support for companies in Europe.
As part of the expansion, Ellen Moeller has joined Watershed as its new head of Europe. Moeller previously worked at Stripe, leading EMEA partnerships and operations. Under her leadership, Watershed plans to grow its European team to 30 staff by the end of the year and 90 by the end of 2023.
“With 20pc of revenue already coming to the region, we’re bringing ambitious plans to grow our presence in this critical market and partner with some of the most prominent thought leaders in the space,” Moeller said.
San Francisco-headquartered Watershed provides a climate-focused platform to help companies measure their carbon footprint and create a strategy to reduce their emissions.
It aims to tackle what it describes as a key bottleneck for many companies, which is a lack of data. Its data analytics platform has been designed by engineers and operators who previously helped develop climate programmes at companies such as Airbnb, Apple, Stripe and Meta.
Some of Watershed’s clients include Stripe, Monzo, Revolut, Kainos, Hopin, Spotify and Klarna.
“Europe is leading the world in the fight against climate change, setting ambitious targets and legislation across multiple policy areas, and binding emissions targets for key sectors of the economy,” Watershed co-founder Taylor Francis said.
“We’re investing heavily in Europe to help businesses get the data, software and support they need to accelerate decarbonisation efforts.”
As part of the expansion in Europe, Watershed has brought on two strategic advisers. These are UN special envoy on climate action and former Bank of England governor, Mark Carney, and former executive secretary of the United Nations Framework Convention on Climate Change, Christiana Figueres.
Watershed has also partnered with new European investors including Unity co-founder David Helgason, investment firm Aglaé Ventures and Exor CEO John Elkann.
These join existing investors and advisers including Sequoia, Kleiner Perkins, Al Gore, and Stripe founders John and Patrick Collison.
The climate-focused start-up reached unicorn status in February of this year after it raised $70m in a Series B funding round.
“Businesses have a big role to play in bending the carbon curve of the world,” Stripe co-founder John Collison said. “I’m excited about the deepening coalition of European policymakers and businesses that are leading the way.
“Watershed putting down roots in Europe will give European companies the tools they need to get to net zero fast,” he added.
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