By Daniel Lanyon on Wednesday 16 November 2022
Ecolytiq is offering its entire product suite for free for the first three years to those who commit to working with them by the end of COP27.
Berlin-based fintech Ecolytiq, which aims to help banks sharpen their eco-credentials, is offering its entire-product suite for free during the COP27 meeting of nations focused on the climate crisis.
The company, which raised €13.5m from investors in May 2022, says as long as financial institutions commit to working with them by the end of COP27 on Friday they will offer up to three years of free access to its green banking product
Founded Ecolytiq analyses payment data through a partnership with Visa, and is looking to collaborate with financial institutions with at least one million retail customers. Its product suite consists of impact offsetting and sustainable investing tools.
“Like many others around the world, we are watching COP27 with bated breath and a cautious hope. We see a lot of passion and ambition to make real progress in fighting climate change, but behind all the conversations a crucial element is lacking – action. Sitting on the sidelines is no longer an option,” said Ecolytiq co-founder, David Lais.
“We need real commitment and swift action from all sectors – especially banking and finance. The question around climate action is no longer ‘if’, it’s ‘how’ and ‘when’” he added.
Investors in the company’s last funding round were Visa, PwC Germany through a fund managed by Segenia Capital, VCM Global Asset Management and BTOV.