Fintech
Global climate fintech leader ekko secures $2.5 million funding round
London-based climate fintech ok, successfully closed a $2.5 million funding round led by Fuel Ventures and supported by Sorven Partners, Mishcon de Reya and existing investors. The increase will enhance ekko’s ability to bring sustainability to the forefront of financial services by enabling banks, fintechs and payments providers to integrate the positive impact of the planet into their products.
After securing several successful partnerships, including Fintech of the Year Volt, Primis and Stubben Edge, as well as the introduction of the Planet Saver account in collaboration with Akoni Hub and BLME, this funding round highlights ekko’s significant progress in the climate technology.
ekko will use this new investment to drive innovation as it continues its mission to leverage financial technology to achieve significant, positive climate impact at scale and break down barriers to more sustainable lifestyles. In this context, ekko will bring industry-leading experts to support international expansion and product development.
Moving into the next phase of growth, the ekko team’s focus is on faster paths for banks, fintechs and payment service providers to better serve and empower their customers, while achieving their climate and environmental goals. By incorporating sustainability into financial products, individuals and businesses can start to make an immediate impact.
ekko supports a variety of impact partners through its fintech model. Partnering with leading organizations including Gold Standard, Conservation International, Tuskand Prevented Ocean Plastic, ekko supports carbon offsetting, reforestation and conservation projects and prevents plastic from entering our oceans. By choosing to raise this money now, ekko is committing to its mission to act now on climate, turning words into action, while remaining commercially strong.
Through investment from pre-seed and seed venture capital firm Fuel Ventures, ekko joins a formidable portfolio of emerging technology companies. Collaborating with the support of Mishcon de Reya and Sorven, this demonstrates the growing market demand for climate technology and ekko is ideally placed to capture this demand and capitalize on the market growth.
Speaking on the closing of the funding round, Oli Cook co-founder and CEO commented: “This fundraiser is a recognition of the enormous potential of ekko’s business and the resonance of our mission. Welcoming investors of the caliber of Fuel Ventures, Sorven and Mishcon de Reya is extremely encouraging. ekko is a very scalable company and we look forward to seeing the broader influence this increase will have on the growth of our products and impact partners as well. The time to act on our current climate situation is now. With this raise, we aim to be a disruptor in the market and enable banks, fintechs and payments providers to enable their customers to have a tangible and meaningful impact on our world.”
Mark Pearson, managing partner and founder of Fuel Ventures, added: “It has always been important for us to invest in technology companies with the potential to grow rapidly. The combination of sustainability and fintech embedded in ekko’s unique value proposition means we can immediately see the opportunity for rapid growth. Fintech and the banking sector are under pressure to adopt more sustainable practices, and ekko’s leadership team has both the banking credentials and fintech entrepreneurship to make this happen. We are excited to help the company take it to the next level.”