Ando, a San Diego, CA-based sustainable banking service, raised $6m in seed funding.
The round was led by TTV Capital with participation from HOF Capital, Kinetic Ventures and NNS Group.
The company intends to use the funds to continue to expand operations and its business reach.
Launched in January 2021 by CEO JP McNeill, Ando is a is a Certified B Corp. banking service that uses customer deposits to fund solar initiatives and other carbon-reducing projects. Users enjoy a full suite of banking features, including security, FDIC protection, bonuses for referring friends, free overdraft protection and the opportunity to get paid up to two days early.
Ando routes customers’ deposits to sustainable initiatives by partnering with local banks and credit unions; together, the company and partner banks are funding thousands of sustainable loans to homeowners and businesses across the country. Current partner banks include WebBank and Virginia Community Capital, with loan recipients including home owners, community gathering places, fire departments, veterinary clinics and other local businesses.