Ecosia backs $1m seed round in TreeCard, the new debit card that plants trees
Summary
The company estimates that for every US $60 / £45 spent* with their new wooden debit card, TreeCard will be able to plant and care for a tree to ensure it survives beyond three years in an area threatened by deforestation. The eco-focused FinTech company aims to compete with the likes of Chime and Revolut, eventually providing all the benefits of the neobank experience, while enabling people to take meaningful climate action every day. The searches made by Ecosia users have already funded the planting of over 110 million trees and improved habitats for endangered animals all over the world, while also helping to sequester thousands of tonnes of carbon each week. We will soon be able to help fight climate change simply by buying a round of drinks in the pub or by doing the weekly shop.” Ecosia will provide financial, commercial and marketing support to TreeCard. The TreeCard founding team includes CEO Jamie Cox, the 23-year old founder of Cashew, a FinTech startup admitted to YCombinator in 2017, and Peter Francis (COO) who recently raised over $250,000 for refugee camps across Lebanon and Iraq.