TreeCard - planting trees as you spend
by Startacus Admin
London-based fintech TreeCard has an innovative approach to climate change - helping people to plant trees with every purchase made with its wooden debit card.
We have written a lot in the past about numerous startups tackling climate change, in a variety of different ways. Whether it’s Treekly combining fighting climate change with improving our health, or Ecologi giving you a tree-planting subscription, there are many ways in which startups provide us with easy methods to have a positive impact on the world, and benefit on an individual level at the same time.
London-based fintech startup TreeCard is one such business. TreeCard provides you with a wooden Mastercard debit card, with no monthly account service fee, and which acts exactly like any other debit card you have in your wallet, except that it is recyclable, and is made from sustainably sourced wood and recycled plastic bottles. And it comes with bonuses. For every $50 spent using the card, the startup works with Ecosia to plant a tree, which helps to restore and protect biodiversity hotspots in more than 35 countries, in partnership with local organisations.
As well as the knowledge that you are helping to reforest areas that need it, there are rewards to be earned from using the card. These are varied, and could be anything from clothing, to travel experiences, to fun adventures, to getaways. And the startup also promises that your funds will never be used to fund fossil fuels or deforestation.
In November, TreeCard announced that it had raised $23 million in a Series A round led by Valar Ventures, from PayPal co-founder Peter Thiel. This comes after a £3.6 million round last February. Having been in beta in the US for some time, the startup has been using this funding to grow their team in preparation for full launch.
Since its founding in 2020, the startup says that they have planted over 200,000 trees. Imagine what they can do after full launch and a big cash injection!
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Published on: 13th December 2022
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