TreeCard raises $5.1 M seed to plant trees as you spend

by RJ Shara | Feb 25, 2021 | Fundings and Exit, Startups

TreeCard, a U.K. yet-to-launch fintech providing a costs card made out of wood and the pledge to fund reforesting via the interchange costs created, has actually raised $5.1 million in seed financing. The round is led by EQT Ventures, with participation from Seedcamp and Episode 1. Angel investors likewise backing the startup include Matt Robinson (creator […] Aiming to end up being a “leading green financing brand name”, TreeCard was founded in August 2020 by Thiel fellow Jamie Cox (who formerly co-founded Cashew), Gary Wu and James Dugan. Once signed up, you connect the TreeCard app to your current bank accounts so you can begin routing your costs through the Mastercard-powered TreeCard. Of course, consumer card interchange charges in the U.K./ EU are extremely low compared to the U.S. Offering a costs card and account isn’t without overhead, so it isn’t clear how sustainable TreeCard could be on interchange profits alone. Comments Tom Mendoza, deal partner at EQT Ventures: “TreeCard has the potential to end up being a leading green financing brand, going where no brand name has actually gone in the past in developing a de facto platform for impactful monetary management. …