Company: ecolytiq
Founders: David Lais, Ulrich Pietsch.
Website: https://ecolytiq.com/
About ecolytiq
Problem:
Founded in March 2020 by a group of entrepreneurs with more than 50 years’ combined experience in payments, banking, loyalty, and scalable data analytics systems, ecolytiq is a climate engagement provider that enables banks and other financial institutions to show their customers the individual impact their purchasing behaviour is having on the environment in ‘real time’ – with the aim of inspiring behavioural change and enabling climate action to tackle the gap between planetary boundaries and overconsumption.
Results:
So far, we are well on our way in transforming the banking and finance industry. We’ve partnered with 10+ tier 1 – 3 banks (not for publication) across several markets including The Netherlands, Germany, France, Slovakia, the USA, Canada, and UAE, solidifying ourselves as a major player in the sustainable banking field. ecolytiq has inspired 500,000+ (not for publication) customers to shift towards more climate positive consumption habits with further expansions already in the works for 2023.
Within six months of launch, our product delivers results. Our customers have experienced on average 13% reduction in CO2e intensity per transaction with customers switching to more sustainable spending habits. Banks also reap the benefits of 19% increase in spend with the bank while increasing engagement within their banking apps by up to 145%.
In May 2022, ecolytiq raised €13.5 million during a successful funding round that saw industry powerhouses like Visa and PwC support our mission. These funds have been used to develop our Sustainability-as-a-Service® solution and expand the markets we operate in, serving ecolytiq’s core mission to help banks all over the globe empower customers with much-needed transparency on individual environmental impact, whilst enabling new business models for the financial sector in alignment with the UN Sustainable Development Goals (SDGs), in the particular the education, sustainable consumption, climate action and partnership SDGs (#4, #12, #13 and #17.)
How:
Our unique all-in-one solution covers the entire sustainability value chain, helping banks embark on their sustainability journey whilst offering their customers personalised environmental footprinting. In addition, ecolytiq has also curated a content library, offering an educational experience on all things personal and environmental impact, to inspire customers to act on their environmental footprints.
To round out the impact experience, ecolytiq’s solutions allow banks to offer their customers a new, personalised climate action paradigm that gives customers access to climate contributions projects, carbon removal credits and impact investing – all layered in their existing banking apps.
As a B2B2C provider, our products will reach the hands of millions – if not billions – of people via banks, resellers, and financial institutions. And this is where we distinguish ourselves from our competitors. Our strength lies within making use of a curated partnership network with key players across the globe including Visa, Worldline, Tink, TSYS and more. In doing so, ecolytiq has built a growing network that includes 26,000+ financial institutions from every corner of the world, all working together towards making sustainable consumption easily accessible and scalable.
