London-based climate fintech company, ekko, has just concluded a $2.5 million funding round. Fuel Ventures led the round, with additional support from Sorven Partners, Mishcon de Reya, and existing investors. This infusion of capital will empower ekko to advance its mission of integrating sustainability into financial services. By doing so, the company aims to enable banks, fintechs, and payment providers to incorporate planet-positive impact into their products. With this latest funding, the company is poised to disrupt the market and empower financial institutions to drive positive change toward sustainability and innovation.
Accelerating sustainability in financial services
With several successful partnerships already under its belt, including collaborations with fintech of the year Volt, Primis, and Stubben Edge, as well as the introduction of the Planet Saver Account in partnership with Akoni Hub and BLME, this funding round underscores ekko’s significant strides in the climate tech sector.
Driving innovation and international expansion
The newly secured investment will fuel ekko’s drive for innovation as it endeavours to use financial technology to deliver meaningful and positive climate impact at scale. Additionally, the funds will facilitate international expansion and product development by bringing aboard leading industry experts.
Empowering customers for a greener future
In its next growth phase, ekko aims to provide faster pathways for banks, fintechs, and payment providers to serve and empower their customers while meeting their climate and environmental objectives. By integrating sustainability into financial products, individuals and businesses can make an immediate impact on the planet.
Supporting impact partners
ekko’s fintech model supports a range of impact partners, including Gold Standard, Conservation International, Tusk, and Prevented Ocean Plastic. Through collaborations with these organisations, ekko is driving carbon compensation, reforestation, conservation projects, and preventing plastic pollution in oceans.
Commitment to climate action
By raising funds at this pivotal moment, ekko reaffirms its commitment to taking concrete action on climate change while maintaining commercial viability. The company aims to translate its mission into tangible results and contribute meaningfully to addressing the urgent climate crisis.
Future optimism
Oli Cook, co-founder and CEO of ekko, expressed optimism about the future impact of the funding round, highlighting the company’s scalability and mission alignment, “This fundraise is a recognition of the huge potential of ekko’s business, and the resonance of our mission. 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, echoed this sentiment, stating, “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.”
