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BBVA and Anthemis invest in Greenspark

Source: BBVA

Greenspark’s technological solutions allow large companies and SMEs to offset their environmental impact by integrating into their websites services to plant trees for each order received, or clean up ocean plastic for each new subscriber to their newsletter.

Greenspark's model makes it easy for client companies to incorporate its tools into their e-commerce store, online payment system or marketing tools. Once integrated, the platform allows them to implement sustainable actions linked to the evolution of their business: for example, planting trees for each order received, cleaning ocean plastic for each new subscriber to their newsletter, or offsetting carbon emissions from each of their team members.

The sustainable actions facilitated by Greenspark have a positive impact not only on the planet, but also on the companies themselves since, by involving their customers and employees, they consolidate brand loyalty and talent retention. To make them a reality, the startup collaborates with international initiatives such as Plastic Bank, a non-profit company that has already recovered and recycled more than 10 million kg of plastic from the oceans since 2013; and Eden Reforestation Projects, which plants trees in Nicaragua and with whom Greenspark’s client companies already plant around 5,000 trees a month.

Thanks to the funding it has just received from BBVA Anthemis Venture Partnership, the BBVA and Anthemis Group startup investment and acceleration studio, the British startup will be able to strengthen its technological offer so that its customers can automate their sustainable actions. At the same time, Greenspark will receive support in other aspects of the business, such as driving the product roadmap and marketing effort, and enabling the venture’s network for the startup to find talent.

Decarbonizing business activity is essential to drive a new industrial revolution that meets climate change objectives. Companies need to leverage technological innovation to place sustainability at the center of their growth strategy, and financial institutions are key players in accompanying them in this transition. Javier Rodríguez Soler, Head of Global Sustainability at BBVA, explained some of the key issues in this regard at the latest Money20/20 meeting held in Las Vegas (USA).

“Sustainability is a strategic priority for BBVA,” explains Christhi Theiss, Head of BBVA Anthemis Venture Partnership at the bank. “With GreenSpark we are backing a passionate founding team with a clear mission at the crossroads of fintech and sustainability. Their elegant Sustainability-as-a-Service solution allows businesses to offset their plastic and carbon footprint with a few clicks, and involves their main stakeholders: the SMEs, its employees and clients who are buying their products. This solution empowers businesses, allowing them to focus on growing their revenues while creating a positive impact.”

“We’re extremely excited to be working alongside Anthemis and BBVA to bring a whole new approach to tackling world issues through tools that are not simply altruistic, they make business sense,” says Lenny Leemann, Co-Founder and CEO of Greenspark. “By proving the economic value of sustainability we truly believe we can make a huge difference in the world.”

Greenspark's customer base is growing by 20% each month and is based mostly in the UK, although the startup also has customers from other European countries, the United States and Australia. The company is also planning to expand into new markets in the future, to facilitate the integration of sustainability into the business strategy of large companies and SMEs globally.

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