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Visa invests in CO2 tracker ecolytiq

Visa invests in CO2 tracker ecolytiq

Sustainable finance provider ecolytiq has secured a €13.5 million financing round led by Visa and other blue chip investors.

Consulting firm PwC Germany also participated through a fund managed by Segenia Capital, VCM Global Asset Management and btov.

Founded in 2019, the Berlin-based company works in partnership with Visa to offer banks and financial institutions the technology to educate and support consumers to manage their environmental impact. The platform uses transactional data to provide customers with CO2 spending data, offsetting, and sustainable investment advice.

In 2021, ecolytiq partnered with Visa on the launch of the Visa Eco Benefits bundle, an embedded carbon footprint tracker for Visa member institutions.

Early adopters include Rabobank, Tatra Bank, Tomorrow, Novus, as well as partners such as Worldline and Tink.

Charlotte Hogg, CEO Visa Europe says: “A significant shift is needed towards more sustainable behaviours to meet the global net-zero goals by 2050. A key element to this change starts with providing an individual understanding of the environmental impact of their choices. Ecolytiq enables banks and their customers to raise awareness of the positive impact they can make. The company has gone from strength to strength in the past two years and we’re proud to support the next stage of their growth.”

Ecolytiq co-founder David Lais says the funds will be invested into product development and new business models for the financial sector in alignment with the UN Sustainable Development Goals.

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