ecolytiq raises EUR 13,5 mln

Thursday 2 June 2022 12:13 CET | News

Germany-based Sustainability-as-a-Service solution provider ecolytiq has closed their investment round, raising EUR 13,5 million from Visa.

Besides Visa, in the founding round also participated the auditing and consulting firm PwC Germany through a fund managed by Segenia Capital, VCM Global Asset Management, and btov that will be used to further develop the product and expand the markets they operate in.

ecolytiq works in partnership with Visa to offer banks and financial institutions the technology to educate and support consumers to manage their environmental impact. The solution leverages payment data in order to provide customers with data-driven CO2 analysis, context, engagement, offsetting, and sustainable investment advice.

In 2021, ecolytiq partnered with Visa on the launch of the Visa Eco Benefits bundle. The embedded carbon footprint tracker allows Visa issuers to add sustainability-focused benefits to existing Visa cardholders, enabling them to understand the impact their spending behaviour is having on the environment, as well as encourage and incentivise sustainable consumption behaviour.

The funds will be used to further expand the ecolytiq Sustainability-as-a-Service solution, which is currently available in Europe, Canada, and the US, serving ecolytiq’s core mission to help banks all over the globe to help their customers with transparency on individual environmental impact, while enabling new business models for the financial sector in alignment with the UN Sustainable Development Goals. 

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Keywords: funding, banks, ESG, investment, partnership
Categories: Banking & Fintech
Companies: ecolytiq
Countries: Canada, Europe, United States
This article is part of category

Banking & Fintech


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