London-based ekko, a climate fintech platform, announced on Thursday that it has raised $2.5M (approximately €2.3M) in a fresh funding round led by Fuel Ventures and supported by Sorven Partners, Mishcon de Reya, and existing investors.
This funding will enable the UK company to further its mission of integrating sustainability into financial services, allowing banks, fintechs, and payment providers to incorporate positive environmental impact into their products.
The company has already established successful partnerships with Volt, Primis, and Stubben Edge, and has introduced the Planet Saver Account in collaboration with Akoni Hub and BLME.
As part of its growth strategy, ekko will bring in industry experts to support international expansion and product development.
Oli Cook co-founder and CEO at ekko, comments, “This fundraiser is a recognition of the huge potential of ekko’s business, and the resonance of our mission. ekko is a very scalable business, and we’re looking forward to seeing the wider influence that this raise will have on our product growth and impact partners, too. The time to act on our current climate situation is now. With this raise, we aim to be the disruptor in the market and
enable banks, fintechs, and payment providers to empower their customers to have a tangible and meaningful impact on our world.”
With a focus on providing faster and more effective ways for banks, fintechs, and payment providers to serve and empower their customers while meeting their climate and environmental objectives, ekko seeks to embed sustainability into financial products, enabling individuals and businesses to make an impact instantly.
ekko: Sustainability for banks and payments
Founded by Manish Vara, Simon Toller, and Oli Cook, ekko specialises in embedding sustainability into financial transactions, enabling customers to make environmentally conscious decisions easily.
The company integrates real-time carbon tracking, carbon offsetting, reforestation, and plastic waste removal with banking and payment services into a simple and easily deployable solution.
ekko’s fintech model supports a variety of impact partners, including Gold Standard, Conservation International, Tusk, and Prevented Ocean Plastic.
The investor
Fuel Ventures aims to support high-growth digital/tech businesses, such as e-commerce, marketplaces, platforms, and software (SaaS) firms with ambitious founders or founding teams, firms with global scale growth potential, and firms with multi-billion dollar market opportunities.
The London-based firm invests annually from its main fund in 12 to 15 seed and growth firms, and from its emerging fund in more than 30 idea/pre-seed and early growth companies.
Mark Pearson, Managing Partner & Founder at Fuel Ventures adds, “It’s always been important for us that we invest in tech businesses with the potential to scale quickly. The combination of sustainability and fintech embedded into ekko’s unique value proposition means we can immediately see the opportunity for fast growth. The pressure is on for fintech and banking to adopt more sustainable practices and the ekko leadership team has both the banking credentials and the fintech entrepreneurship to make this happen. We’re excited to help the business push onto the next level.”
Read the orginal article: https://siliconcanals.com/news/startups/londons-ekko-raises-2-3m/
