NYC-based Crux secures $18.2million in series A round funding. Leading the round, which raised the total to more than $27 million, was Andreessen Horowitz.
Participating investors included The Three Cairns Group, Lowercarbon Capital, New System Ventures, and Overture. David Haber, a general partner at Andreessen Horowitz with expertise in financial services and technology ventures, will become a member of the board.
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The company plans to use the money to hire more people (totaling more than 30), increase yearly transferable credit volumes to billions, and broaden its solutions to include more capital stack components for clean energy and decarbonization projects.
Crux is a sustainable finance technology firm co-founded by Allen Kramer and Alfred Johnson. It focuses on financing renewable energy and decarbonization projects in the United States. The ecosystem it offers is the first solution for managing and transacting with transferable tax credits for buyers, sellers, and intermediaries.
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About Crux
The ecosystem known as Crux facilitates the management and transaction of transferable tax credits for developers, tax credit buyers, and financial institutions. Their network and resources facilitate transactions, give you access to a huge market, lower risk, and boost confidence.
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