The startup operates an environmental platform that enables project developers to effectively manage and allocate community benefits through data-driven decision-making tools. This platform addresses the challenge of ensuring equitable distribution of resources and support to local communities impacted by development projects.
Funding
$3.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Carbon project developers face challenges in efficiently and transparently distributing climate finance to local communities impacted by their projects. Inefficient payment mechanisms and a lack of traceability can hinder project implementation and limit access to capital. Buyers and investors are increasingly scrutinizing community payment mechanisms, creating a bottleneck for developers.
Solution
Terraspect provides a platform for project developers and buyers to manage community payments with full traceability. The platform mitigates operational risks by providing visibility over critical processes such as participant onboarding, payment information, and milestone tracking. It ensures community compensation by offering low-cost disbursement methods through a network of regulated payment service partners. Terraspect also quantifies project impact by providing verified, traceable, and auditable finances and customized reports to buyers and stakeholders.
Target Audience
The primary customers are carbon project developers and buyers involved in nature-based solutions, particularly those focused on projects in the Global South.
Features
- Participant onboarding and payment information management
- Milestone tracking
- Access to a network of regulated payment service partners for low-cost disbursement
- Verified, traceable, and auditable financial reporting
- Customizable reports for buyers and stakeholders
- Integration with mangrove restoration, afforestation, agroforestry, biochar, and insetting projects