Lightspeed-Backed Carbon Accounting Startup Plan A Acquired by Diginex in €55m Deal

Berlin-based carbon accounting startup Plan A has been acquired by Diginex, a London-based sustainability and ESG software provider listed on Nasdaq, in a deal that values the company at €55 million. The acquisition was announced in late 2025 and finalized in January.

Founded in 2017, Plan A helps companies measure and manage their environmental impact, a segment that attracted strong investor interest during the ESG boom of 2021 and 2022. The company raised around $40 million from backers including Lightspeed, HV Capital, Deutsche BankDealroom has a profile for this one. Try Dealroom → and Opera Tech VenturesDealroom has a profile for this one. Try Dealroom →, alongside prominent European tech founders.

Under the terms of the deal, Diginex acquired 100% of Plan A, paying €3 million in cash and €52 million in Diginex shares. The agreement also includes a performance-based earnout of up to €25 million, tied to operational and financial targets over the next two years. Plan A’s founder, Lubomila JordanovaDealroom has a profile for this one. Try Dealroom →, will remain CEO as the company is integrated into Diginex.

For Diginex, the acquisition strengthens its position in ESG reporting and regulatory technology, adding carbon accounting capabilities to its growing portfolio. The company previously acquired Danish carbon accounting startup Matter, signaling a broader strategy to build scale through consolidation.

The deal reflects a wider shift in the carbon accounting market. After a surge of funding in recent years, investor interest has cooled as regulators have softened ESG reporting requirements, particularly in Europe. With many players competing in a crowded market, consolidation is increasingly seen as the next phase — and Plan A’s sale marks another step in that transition.

Sources:
ESG Today
Sifted
Business Cloud

A.M.