CoGo

Launched in 2010 as a charitable organization, CoGo Connecting Good Limited (CoGo) is a New Zealand-based company that provides a mobile app for individuals and businesses in the UK to calculate and offset their carbon footprint using open banking data.

Users connect their bank account to the app to automatically calculate the carbon footprint of the user based on their transactions. CoGo allows users to offset their carbon footprint by funding verified carbon offsetting projects. CoGo also offers a database of UK businesses that offers climate positive products for users to reduce their carbon footprint. In September 2023, CoGo launched its Business Carbon Manager app in the UK with Xero, an accounting platform for small businesses.

Key customers and partnerships

In February 2022, CoGo partnered with Moneythor , a Singaporean digital banking services provider, to provide its Asian banking customers a sustainable financing solution. In November 2022, the company collaborated with Tandem Bank , a UK-based financial services provider, and NewDay, a UK-based credit card company, to measure carbon footprint. In August 2023, the company expanded its collaboration with NewDay to introduce a carbon-tracking tool to the latter’s Aqua credit cards. CoGo entered into similar partnerships with ING Group (a Netherlands based banking and financial services provider, CommBank (an Australian multinational bank), and Moneytree (a Japanese fintech provider)in August 2022. In June 2024, ING Group expanded its existing partnership with CoGo, to launch a carbon footprint insight feature for its app users. 

In February 2023, CoGo was listed on the AWS Marketplace, allowing more than 325,000 AWS customers to access CoGo’s cloud-based carbon footprint technology. As of March 2024, CoGo had worked with 16 global banks.

Funding and Financials

CoGo’s most recent funding was in June 2023, when it raised NZD 1 million (USD 0.6 million) in a venture funding round led by Soul Capital. The proceeds were used to fund CoGo’s global expansion. Previously in October 2021, the company raised USD 5 million in a Series A funding round. Iin August 2020, the company raised GBP 4 million (USD 5.5 million) in a round from five individual investors.