A Paris startup just raised fresh capital to let ordinary people invest in one of Europe’s most powerful climate tools. And it could change how the world funds the fight against global warming.
What Homaio’s New Funding Round Means for Retail Investors
Paris-based Homaio has raised €3.6 million in a funding round led by RAISE Ventures, with participation from Groupe Eren, business angels, and existing investors XAnge and Redstone, bringing its total funding to over €5 million.1
Homaio describes itself as already generating meaningful traction, and the round is framed as expansion capital.2 This is not survival money. It is growth money aimed at widening access to climate markets that were previously locked behind institutional doors.
The round was led by RAISE Ventures, specifically its Raise Seed for Good vehicle, a Paris-based fund focused on tech companies with environmental and social impact.2 Groupe Eren, an energy transition investor co-founded by Pâris Mouratoglou and David Corchia following the sale of EDF Energies Nouvelles, joined as a new strategic investor.2
Existing backers XAnge, the B Corp-certified early-stage fund with €800 million under management, and Redstone, the European VC with €600 million under management that backed Homaio at its earliest stages, both increased their participation.2
The message from investors is clear: they believe retail access to carbon markets is an idea worth doubling down on.
Homaio carbon allowance investment platform for retail investors in Europe
How Homaio Gives Regular People Access to Carbon Allowances
Founded in 2023, Homaio is an investment platform that provides retail investors with access to emissions allowance markets, which have traditionally been limited to institutional participants. These markets play a central role in climate policy and industrial transformation, particularly in Europe.1
Here is how it works in simple terms.
The EUA market works through a cap-and-trade mechanism. The EU sets a ceiling on the total volume of greenhouse gas emissions that covered industries can produce, issues a corresponding number of allowances, and reduces that number each year. Companies that emit more than their allowance must buy additional permits; those that emit less can sell them.2
The Paris-based platform structures financial securities physically backed by carbon allowances, allowing retail investors to buy and hold EUAs directly through a digital platform.2 Homaio structures financial securities physically backed by carbon allowances, allowing investors to subscribe in minutes, move in and out of the market freely, and monitor both financial and environmental performance in real time. To support that model, it works with established institutional partners. Aether Financial Services acts as a security agent to protect investors from counterparty risk, while the European Registry, where the allowances are held, is administered by Caisse des Dépôts.3
Key Fact: Each permit held by an individual investor is a permit that cannot be used by an industrial entity. To guarantee this impact, Homaio physically holds EUAs in the European registry.4
This means every investment made on Homaio directly removes a carbon permit from the hands of polluters.
Early Traction: Thousands of Users Across 30+ Countries
Despite being less than two years old as a public product, Homaio has gained rapid traction.
Since its public launch in September 2024, it has attracted thousands of users across more than 30 countries, according to the company. On Wednesday it announced a €3.6 million seed round, bringing its total funding to over €5 million.2
The platform is in its infancy, but Homaio has already wooed clients from around the world, from Europe to Brazil, the United States to Singapore. Homaio is now sitting on a stash of 10,000 European carbon allowances, each one granting the right to emit one tonne of CO2. That’s 10,000 tonnes of CO2 permits taken off the market.5
Here is a quick snapshot of Homaio’s journey so far:
| Milestone | Detail |
|---|---|
| Founded | 2023 by Valentin Lautier |
| Public Launch | September 2024 |
| Total Funding | Over €5 million |
| Users | Thousands across 30+ countries |
| Carbon Allowances Held | 10,000 EUAs |
| Key Investor Partners | RAISE Ventures, Groupe Eren, XAnge, Redstone |
Valentin has spent the last 15 years leveraging technology to build businesses. Harnessing his background in banking and fintech, he founded Homaio with the desire to design accessible yet uncompromising climate assets.6 Valentin Lautier brings experience from previous roles at OMS & Co, Kosmiico, Quarv and Mastercard. Valentin Lautier holds a 2010 – 2014 HEC School of Management.7
Why Carbon Allowance Prices Could Keep Rising
Timing matters in any investment. And Homaio is entering a market that many analysts believe is heading higher.
A consensus forecast compiled by GMK Centre projects the average price of EU carbon allowances (EUAs) will reach €126 per ton of CO₂ by 2030.8 The average CO₂ price is projected to reach €85/t in 2026, and cross into triple digits by 2027 at €100/t.8
The math behind this trend is straightforward. Because supply is structurally declining and demand is broadly correlated with economic activity, EUA prices have historically trended upward over time, with significant volatility in the short term.2
Several regulatory forces are expected to push prices higher:
- The most impactful changes are anticipated in 2026, including the revision of the EU ETS that will lower benchmarks for free allowances, and the full implementation of the Carbon Border Adjustment Mechanism (CBAM).8
- The transition to CBAM will be gradual: ETS1 free allowances for CBAM-covered sectors will be reduced by 2.5% in 2026 and 5% in 2027.9
- ETS2 nearly doubles the share of EU GHG emissions covered by carbon pricing, to around 75%.9
However, risks remain. EUA prices have been volatile in recent months, recently testing a floor around €70 amid political pressure from some member states, Italy and Germany among them, for reform or suspension of the EU ETS.2
Potential investors should understand that carbon markets carry real volatility, and past price trends do not guarantee future returns.
What Comes Next for Homaio and Energy Transition Investing
Homaio is not stopping at European carbon allowances.
The stated goal is to move beyond European allowances into a broader suite of markets tied to the energy transition: international emissions pricing systems, energy markets, the electrification of industry, and other asset classes that have historically been accessible only to institutional players.2
These markets put a price on greenhouse gas emissions and form the backbone of global climate policy, in China, Europe, Brazil and beyond. More than 40 jurisdictions worldwide have implemented emissions trading systems.10 That is a massive runway for expansion.
Richard Würl, Principal at Redstone, noted that “Homaio has built an innovative financial platform for a complex, regulated market and shown it can scale internationally. That’s why we doubled down and why we believe it can become the defining capital markets infrastructure for the energy transition.”3
XAnge CEO Cyril Bertrand added that “Homaio is opening private investors’ access to strategic markets for the energy transition, previously reserved for institutional players. We are convinced that this democratisation will play a key role in mobilising more capital toward the decarbonisation of the economy.”3
Homaio is not alone in the space. SparkChange CO2, a UK-based ETC product, has offered EUA market access to retail investors via mainstream investment platforms since at least 2021.2 But the company’s more specific differentiator is the direct physical holding model and the breadth of its expansion plans beyond European allowances alone.2
The climate crisis is not waiting. And for the first time, ordinary investors have a real shot at putting their money where their values are, not just through green ETFs or ESG labels, but by directly holding the very permits that force industries to clean up or pay up. Since 2013, the EU ETS system has generated over €245 billion in auction revenues for EU governments and initiatives.11 Homaio wants everyday people to be part of that story. Whether you are a seasoned investor looking for uncorrelated returns or someone who simply wants your savings to fight climate change, this is a space worth watching closely. Share your thoughts in the comments below.
