Climate Tech start-up Watershed has announced today (6 April) the creation of a co-headquarters in London, to expand its climate 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 staff to 30 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.

Watershed provides a climate platform to help companies measure their carbon footprint and create a climate strategy to reduce their emissions. The climate start-up said the key bottleneck for climate success for many companies is a lack of data. Some of Watershed’s clients include Monzo, Revolut, Kainos, Hopin, Spotify and Klarna.

Watershed said its data analytics platform is designed by engineers and operators who previously helped develop climate programs at companies such as Airbnb, Apple, Stripe and Meta.

“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, Watershed has brought on two strategic advisors who will support the expansion in Europe. These are UN climate envoy Mark Carney and former executive secretary of the UNFCCC, Christiana Figueres.

Watershed has 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 advisors including Sequoia, Kleiner Perkins, Mark Carney, Al Gore, Christiana Figueres and the Collison brothers, John and Patrick.

The climate start-up reached unicorn status last February, 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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