Climate fintech, ekko, has closed a $2.5m funding round led by Fuel Ventures. It is supported by Sorven Partners, Mishcon de Reya and existing investors. According to ekko. the raise will supercharge its ability to bring sustainability to the forefront of financial services. Specifically, it will enable banks, fintechs and payment providers to plug-in planet positive impact into their products.
The London-based fintech has already secured a number of partnerships, including Volt, Primis, and Stubben Edge. It has also introduced the Planet Saver Account in collaboration with Akoni Hub and BLME. It says the funding round underscores its significant progress in the climate tech sector.
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Leveraging financial technology to deliver positive climate impact at scale
ekko’s mission is to leverage financial technology to deliver meaningful and positive climate impact at scale. It aims to break down the barriers to more sustainable lifestyles. As part of this, ekko will be bringing leading industry experts to support international expansion and product development.
ekko’s focus is on faster routes for banks, fintechs, and payment providers to better serve and empower their customers while delivering on their climate and environmental objectives. By embedding sustainability into financial products, individuals and businesses can begin to make an impact instantly.
According to ekko, backing from Fuel Ventures, Mishcon de Reya and Sorven demonstrates the growing market demand for climate technology. Moreover, ekko is ideally positioned to capture that demand and harness market growth.
Oli Cook co-founder and CEO at ekko said: “This fundraise is a recognition of the huge potential of ekko’s business.
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By GlobalDataekko: a scalable disruptor to empower consumers
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. 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.”
