ecolytiq raises €13,5 million to empower banks and consumers in the fight against climate change
Berlin, 30 May 2022 – Sustainability-as-a-Service® solution provider ecolytiq has successfully closed their investment round, raising EUR 13,5 million from Visa, 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.
Founded in 2020, 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.
Charlotte Hogg, CEO Visa Europe said: “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.”
Clients worldwide trust the ecolytiq technology to encourage their retail banking customers to take effective climate action, helping them shape the kind of future they want. Early adopters include Rabobank, Tatra Bank, Tomorrow, Novus, as well as partners such as Worldline and Tink.
“We founded ecolytiq with the mission to not only educate consumers all over the world about their individual impact on the environment, but at the same time empower them to take action,” says ecolytiq co-founder David Lais. He adds: “We are elated to have found investors that not only support and believe in our vision, but also personally share those same values and beliefs in finance for a better future.”
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 empower their customers with much-needed transparency on individual environmental impact, while enabling new business models for the financial sector in alignment with the UN Sustainable Development Goals.
PwC Germany considers climate change one of the biggest challenges of today. The member firms of the global PwC network have made a worldwide science-based commitment to achieve net zero greenhouse gas (GHG) emissions by 2030. The commitment includes supporting clients to reduce their emissions as well as reducing those from own operations and suppliers.
Clemens Koch, Leader of Financial Services at PwC Germany said: “PwC Germany supports initiatives that enable financial institutions and banks to leverage the enormous potential of sustainable transformation. The investment in ecolytiq is in line with our commitment to deliver sustained outcomes for financial organizations, their customers, stakeholders and communities to make a positive and enduring impact.”
The Sustainability-as-a-Service® solution from ecolytiq enables banks, fintech companies and financial service providers to show their customers the individual impact their purchasing behaviour is having on the environment in real time. The ecolytiq software calculates personal environmental impacts, such as CO2 values, on the basis of payment transactions. In November 2020, ecolytiq joined the Visa Fintech Partner Connect programme, enabling banks to seamlessly implement their sustainability strategies using payment data. www.ecolytiq.com
Media contact ecolytiq: Yuki Hayashi I ecolytiq GmbH I Email: [email protected] I
phone: +49 30 2201232-80
About PriceWaterhouseCoopers / Segenia Capital
With offices in 156 countries and more than 295,000 people, PwC is among the leading professional services networks in the world. In FY21, PwC firms provided services to 84% of the Global Fortune 500 companies.
Aligned with firm’s overall strategy to further invest into inorganic growth and insource innovation, PwC Germany invests in startups offering innovative technologies across PwC core industries. Investment in sustainable innovations that drive ESG strategy and reporting into the heart of the business is aligned with this long-term perspective.
PwC Germany has invested in ecolytiq through Segenia Capital, Frankfurt-based independent venture capital firm.
Media contact PriceWaterhouseCoopers: Nina Elisabeth Korbmacher I PwC Communications, PwC Germany I Email: [email protected]
Media contact Segenia Capital: Michael Janssen I Segenia Capital Management GmbH I [email protected] I phone: +49 69 247 496 450
About btov Partners
btov Partners is a European venture capital firm focusing on technology startups since 2000. btov’s community of entrepreneurial private investors provides it with unique expertise and supports the firm’s passion for discovering non-obvious businesses and promising founders. Its flagship Digital Tech fund focuses primarily on startups in the fields of data analytics, AI, fintech, SaaS, logistics, digital health, and digital marketplaces. With offices in Berlin, Zurich Munich, St. Gallen, and Luxembourg, the company invests approximately EUR 90 million across Europe per year. The most well-known investments include SumUp, DeepL, Raisin DS, Facebook, Foodspring, ORCAM, Volocopter, and XING.
Media contact btov Partners: Chase Gummer I btov Partners I Email: [email protected] I
phone: +49 1578 455 1020
About VCM Global Asset Management
Founded in 2010 and focused on alternative investments in venture capital, private equity, private equity real estate and public market opportunities, VCM and its affiliated companies manage over USD1 billion on behalf of institutions, family offices, and high-net-worth individuals. VCM’s diverse range of investment strategies encompass venture capital, real estate, private equity, life insurance policies, medical receivables, and public market strategies. Focused on prioritizing common sense investing and preservation of capital across all their strategies. For more information visit: www.vcmgam.com
Media contact VCM: Hiyiri Merino I VCM Global Asset Management I
Email: [email protected]
Media contact Visa: Daniela Zdunek I Visa Inclusive Impact & Sustainability Communications I
Email: [email protected]