ecolytiq

ecolytiq enables retail banks to calculate the carbon footprint of their customers based on transaction data. This information can be then communicated to a bank’s customers to allow them to offset the carbon footprint of a particular transaction by making a donation to a carbon offset project.

Key customers and partnerships

In February 2022, the company partnered with TapiX , an API-based solution provider for payment data, to measure the carbon footprints of consumer spending. In April 2022, ecolytiq also partnered with Snowdrop Solutions, a British data enrichment service provider, to improve climate awareness in banking. The company entered into a similar collaboration with exceet Card Group, a producer of sustainable payment cards, to enhance awareness of sustainable banking solutions in May 2022.

ecolytiq partnered with financial institutions globally including VISA, Alpha Bank, QIB, TSYS, Worldline, Tink, Rabobank and Mashreq, among others.

Funding and financials

In May 2022, the company raised EUR 13.5 million (USD 14.5 million) in a venture round led by Visa. The proceeds were used to develop ecolytiq’s solution and expand its existing geographical footprint across Europe, Canada, and the US.