Green FinTech TreeCard Raises $23 Million
Eco-conscious money app TreeCard is $23 million richer after a Series A funding round.
According to published reports on Wednesday (30 November), the British company will use the funding to expand its staff, with the aim of doubling the size of the team. The round was led by Valar Ventures, owned by billionaire Peter Thiel.
Founded in 2020, TreeCard offers users a wooden debit card as well as a platform for managing expenses and money. The company uses 80% of its profits from card interchange fees to plant trees, and says it has planted more than 200,000 so far.
As PYMNTS reported earlier this month, this year has been a good year for climate technology funding, with a recent PwC report showing that investments in climate technology in the 12 months to Q3 2022 represented more than a quarter of all venture capital ( VC) invested worldwide.
And that was before this month’s COP27 climate summit, which ended with a number of agreements in that sector.
For example, the European Investment Fund (EIF), a private equity (PE) and VC financier run by EU member states, has pledged to invest $254 million, including $77 million aimed at increasing funding for energy and circular economy projects in Spain . and financing of renewable energy infrastructure in Europe.
And the UK has committed approximately $77 million to help accelerate the development of new green technologies and help finance the country’s clean energy industry.
In a press release announcing the investment, the government stated its goal to become a global cleantech powerhouse and help other countries transition to renewable energy.
“At COP27, we are leading international efforts to ensure that these new innovations can be more accessible and affordable for heavy, energy-intensive industries in some of the world’s poorest countries,” the release said.
How consumers pay online with stored credentials
Convenience prompts some consumers to store their payment information with merchants, while security concerns give other customers pause. For “How We Pay Digitally: Stored Credentials Edition,” a collaboration with Amazon Web Services, PYMNTS surveyed 2,102 U.S. consumers to analyze the consumer dilemma and reveal how merchants can win over holdouts.
