London-based climate FinTech ekko has closed a £2 million round of funding.
ekko aims to bring sustainability to the forefront of financial services by enabling banks, FinTechs and payment providers to plug planet positive impact into their products.
It works with leading organisations including Gold Standard, Conservation International, Tusk and Prevented Ocean Plastic to support carbon compensation, reforestation and conservation projects, and prevent plastic from entering the oceans.
The round was led by Fuel Ventures and supported by Sorven Partners, Mishcon de Reya and existing investors.
ekko has secured several partnerships including Volt, Primis and Stubben Edge, as well as the introduction of the Planet Saver Account in collaboration with Akoni Hub and BLME.
It will now bring in leading industry experts to support international expansion and product development.
“This fundraise is a recognition of the huge potential of ekko’s business, and the resonance of our mission,” said Oli Cook, co-founder and CEO.
“Welcoming investors of such calibre as Fuel Ventures, Sorven and Mishcon de Reya, is hugely encouraging. ekko is a very scalable business, and we’re looking forward to seeing the wider influence that this raise will have on our product growth and impact partners, too.
“The time to act on our current climate situation is now. With this raise, we aim to be the disruptor in the market and enable banks, FinTechs, and payment providers to empower their customers to have a tangible and meaningful impact on our world.”
Mark Pearson, managing partner & founder at Fuel Ventures, added: “It’s always been important for us that we invest in tech businesses with the potential to scale quickly.
“The combination of sustainability and FinTech embedded into ekko’s unique value proposition means we can immediately see the opportunity for fast growth. The pressure is on for fintech and banking to adopt more sustainable practices and the ekko leadership team has both the banking credentials and the fintech entrepreneurship to make this happen.
“We’re excited to help the business push onto the next level.”