Purpose Green—the one-stop-shop for residential and commercial asset green transformation—announced the close of its Seed funding round, which totaled nearly $15 million. This round was led by Fifth Wall, the largest asset manager focused on improving, future-proofing, and decarbonizing the built world. The round also included notable participation from Atlantic Labs and Speedinvest. This infusion of fresh capital brings Purpose Green’s total funds raised to date to a notable $18.4M.
“We are honored to welcome Fifth Wall as a strategic partner in our mission towards driving sustainable change within the building sector. Their investment in Purpose Green marks a significant milestone in the global movement towards green buildings,” said Lucas Christel, Co-Founder of Purpose Green. “Together, we are poised to set new standards in real estate sustainability by delivering comprehensive solutions that balance economic viability with environmental responsibility. Our goal is to establish Purpose Green as the leading B2B real estate climate tech company, focused on expanding into the broader European market.”
The funds from this round will be used to accelerate team expansion and enhance Purpose Green’s software and automation capabilities. To stay at the forefront of the industry, it will include advancing their core Software-as-a-Service (SaaS) platform with expanded energy intelligence tools, ESG reporting, and the use of AI. They also plan to hire for key operational roles, such as construction project managers, ESG managers, as well as energy efficiency experts. In addition, they will expand their network of construction partners and further standardize retrofit processes across asset classes, to strengthen their execution capabilities.
Purpose Green aims to expand its service offerings along the value chain of the building lifecycle, providing comprehensive solutions for sustainable construction and refurbishment.
“We are thrilled to add Purpose Green to Fifth Wall’s growing Climate portfolio,” shared Miguel Nigorra, Partner and the Head of Europe, Fifth Wall. “We look forward to working hand-in-hand with Lucas and his team of industry leaders to not only meaningfully increase Purpose Green’s market share across Europe, but furthermore to make them the indispensable partner for today’s real estate industry’s leaders, setting the standard for green asset management.”
By simplifying the retrofit process as well as accelerating the transition to sustainable building stock, Purpose Green fills a critical gap in the market. Unlike other solutions that offer either high-level environmental, social, and governance (ESG) analysis or fragmented services, Purpose Green combines expert advice, innovative software, and seamless execution, focusing on investment properties. This positions it to capitalize on Europe’s drive towards sustainability.
About Purpose Green
Purpose Green, headquartered in Berlin, is a leading German climate tech company driving the decarbonization of the building sector via comprehensive end-to-end solutions. The company facilitates the transformation of multi-family homes, residential and commercial properties, and office buildings into sustainable, green structures. By providing tailored renovation and energy consulting services at both the individual asset and portfolio levels, Purpose Green supports property owners, property managers, and institutional funds. As a one-stop shop, Purpose Green simplifies the entire process by offering energy assessments, renovation roadmaps (iSFP), funding acquisition (BAFA/KfW/local programs), energy-efficient implementations, CAPEX project management, and long-term ESG management and reporting. Purpose Green is backed by some of Europe’s most renowned early-stage investors, including Fifth Wall, Speedinvest as well as Atlantic Labs. Learn more at purpose-green.com.
About Fifth Wall
Founded in 2016, Fifth Wall, a Certified B. Corp, is the largest asset manager focused on improving, future-proofing, and decarbonizing the built world. With approximately $3 billion in commitments and capital under management, Fifth Wall is backed by a global mix of more than 110 strategic limited partners from more than 20 countries, including BNP Paribas Real Estate, British Land, CBRE, Cushman & Wakefield, Hilton, Hines, Host Hotels and Resorts, Kimco Realty Corporation, Lennar, Marriott International, MetLife Investment Management, MGM Resorts, Related Companies, Starwood Capital, Toll Brothers, and others. This consortium represents one of the largest groups of potential partners in the global built world ecosystem, resulting in transformational investments and collaboration with portfolio companies to cut emissions, improve efficiency, and maximize returns. Founded in Los Angeles and headquartered in New York, Fifth Wall’s other offices include San Francisco, London, and Singapore. For more about Fifth Wall, its LPs, and portfolio, please visit fifthwall.com.
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