Tom Mendoza, Deal Partner at EQT Ventures who led the investment, adds: “TreeCard has the potential to become a leading green finance brand, going where no brand has gone before in creating a de facto platform for impactful financial management. As a multi-stage fund, EQT Ventures’ presence across both Europe and the US provides the perfect springboard for us to launch into international markets.” Were powered by Ecosia, the search engine that has planted over 130M. We’re really excited to be backed by EQT Ventures it was clear throughout the fundraising process that the team really understood and resonated with our mission. Check out our first product: a real wooden debit card that plants trees as you. Jamie Cox, CEO and Co-Founder, says: “We wanted to create a financial product with a difference, one that was far removed from greenwashing and allowed customers to improve the impact of their spending without drastically changing their habits. By challenging the finance industry in this way, positive and long-lasting impact can be created. TreeCard enables consumers to take an active role in making a difference to the climate emergency through everyday spending, without any cumbersome processes.
Last year, it was announced that ethical consumer spending and finance in the UK alone reached a record GBP98 billion. Over the last 10 years, Ecosia has planted more than 119 million trees all over the world.Ĭonsumers direct the economy through spending, with sustainability increasingly prioritised. Previous TigerVPN with a Non-broken Open-source App. Check it out and plant a tree with this link. It’s a way you could make a difference at no cost to you with regular card usage, so it’s definitely worth a look.
Instead of funnelling money back to the customer, TreeCard invests 80 per cent of profits into sustainable causes, including reforestation in partnership with Ecosia. The Treecard is a very unique and timely card, considering the rampant fires and deforestation these past few years. TreeCard makes money from the interchange charge and operates in a similar way to Amex, which gives a huge percentage of profits back to consumers in cashback rewards. TreeCard, as a complementary product to Ecosia, presents a responsible alternative to everyday banking services. Having founded Cashew, a Venmo for the UK that achieved 20% WoW growth, Jamie was hungry for another fintech opportunity with higher impact. Without spending money on marketing, the company has organically grown a waiting list of over 140,000 people for the launch of the card, which is due to be released in the next few months.įounded in August 2020 by 23 year-old Jamie Cox (CEO and co-founder), alongside James Dugan (CMO and co-founder) and Gary Wu (co-founder and CTO), the idea for the company was initially discussed over the kitchen table with Jamie’s mum.
#Ecosia tree card free
The card is completely free to customers and regular purchases contribute to tree planting projects by Ecosia, the green search engine at least 80% of profits go straight to reforestation projects in 26 countries around the world. Were powered by Ecosia, the search engine that has planted trees over. TreeCard links with current bank accounts, making it easy and convenient for users to integrate TreeCard into their usual spending habits. Treecard is building the leading green finance ecosystem by generating environmental. The funding will be used to hire fintech talent, support product roll-out across the UK, and expand into the US and key European markets. In its announcement, Ecosia said that if you register by December 1, your TreeCard debit card will be issued at launch.Angel investors including Matt Robinson (the founder of GoCardless) and Charlie Delingpole (founder of ComplyAdvantage) also participated in the round. TreeCard sign-ups are open now and you will be placed in a queue where you can wait for your details to be checked and your card to be shipped. If you don’t spend in-store much, you can also use the card for making purchases online. Deposits will be insured up to $250,000 by TreeCard’s banking partners and they can also be linked to Apple Pay, Google Pay, and Samsung Pay. The debit cards will be on Mastercard’s network and will be linked to an account that will be manageable from an app on smartphones. TreeCard accounts are full-featured deposit accounts and will be able to receive direct deposits and ACH transfers. Ecosia will spend 80% of the income from the interchange to plant trees, it estimates that customers will need to spend $60 to fund a new tree. With the debit card, users will not have to pay a fee, instead, TreeCard makes money from interchange – a fee that stores have to pay on each transaction.
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