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Visa joins Ecolytiq’s €13.5m funding round

By Hannah McGrath

Ecolytiq, a sustainable finance solution provider has closed a €13.5 million investment round led by Visa and other major investors.

The company reported that PwC Germany also participated in the round through a fund managed by Segenia Capital, CM Global Asset Management and btov.

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.

Founded in 2020, ecolytiq works in partnership with Visa to offer banks and financial institutions technology solutions to manage their environmental impact.

Existing retail banking customers include Rabobank, Tatra Bank, Tomorrow Bank, Novus, as well as partners such as Worldline and Tink.

The solution leverages payment data in order to provide customers with data-driven CO2 analysis, context, engagement, offsetting, and sustainable investment advice.

Visa further extended the partnership in 2021 to launch its Eco Benefits bundle, an embedded carbon footprint tracker that allows Visa issuers to add sustainability-focused benefits to existing Visa cardholders.

Commenting on the investment, Charlotte Hogg, chief executive at 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.”

David Lais, co-founder of ecolytiq said:“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.”

He added: “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."

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