ecolytiq, a Berlin, Germany-based sustainability-as-a-Service® solution provider, closed a EUR 13.5m in funding.
Backers included Visa, the auditing and consulting firm PwC Germany through a fund managed by Segenia Capital, VCM Global Asset Management and btov.
The company intends to use the funds to further develop the product and expand the markets they operate in.
Founded in 2020 by David Lais, ecolytiq provides a Sustainability-as-a-Service® solution that 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 software calculates personal environmental impacts, such as CO2 values, on the basis of payment transactions. In November 2020, the company joined the Visa Fintech Partner Connect program, enabling banks to implement their sustainability strategies using payment data. 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.
Early adopters include Rabobank, Tatra Bank, Tomorrow Bank, Novus, as well as partners such as Worldline and Tink.
The solution is currently available in Europe, Canada, and the US.