Crux Raises $18 Million for Clean Energy Tax Credit Platform

Eco-friendly fintech company Crux has raised $18.2 million in Series A funding to support the development of its sustainable finance platform for transferable tax credits. The company plans to expand its offerings in the wake of the Inflation Reduction Act, which made tax credits transferable for the first time, providing new funding opportunities for energy transition projects.

With over $8 billion in credits available for sale, Crux works with over 100 partners and offers instant access to billions of dollars in active buy-side interest. The funding will enable the company to grow its personnel, boost transaction volumes, and introduce new goods.

Co-founder and CEO Alfred Johnson stated, 'The goal of this new funding round is to further our mission of making sustainable finance more interconnected and efficient by enabling us to build even faster, grow the transferable tax equity market at a critical juncture, and expand our services'.

Investors including Lowercarbon Capital, New System Ventures, and Andreessen Horowitz led the funding round. General Partner David Haber of Andreessen Horowitz highlighted Crux's role in the financial markets for renewable energy and decarbonization, providing unmatched technological tools and establishing an unmatched network of market players.