Keewe, an innovative fintech company working to transform international payments, has recently announced a successful funding round.
The firm, backed by industry veterans from BNP Paribas, Western Union and CapGemini, focuses on making international payments more efficient and environmentally friendly.
The French start-up secured €3m in funding from both historical and new investors, according to a report from dayFREuro. Notable investors in this round included Jerome Camblain Smart Lenders AM, Guillaume Amblard formerly of BNP Paribas, Yann Samuelides formerly of Goldman Sachs, Loic Mennel formerly of BNP Paribas, Blast.Club’s Anthony Bourbon, and Dovesco, a Belgian family office.
Keewe primarily aims to address two main challenges. Firstly, it seeks to reduce the excessive costs Small and Medium Enterprises (SMEs) incur when making international payments through traditional banks. Secondly, the company tackles the significant carbon footprint generated by internationally active SMEs. By redirecting a portion of the revenue normally pocketed by banks, Keewe supports its customers’ ecological commitments.
Keewe intends to use the newly acquired funds to accelerate its business operations and further develop its unique offering, Green Payments. This feature enables customers to measure the carbon footprint of goods and services paid for abroad using a proprietary tool labelled “Photo Carbone”. As such, users get a comprehensive view of their major source of greenhouse gas emissions.
Further to the green payments initiative, Keewe offers customers the ability to carry out foreign currency transactions on its platform and receive support for any foreign exchange issues. Customers can open accounts in 22 different currencies and send and receive money in over 120 countries globally.
Keewe’s initiative doesn’t stop there. The company also offers a “planetary dividend”, equivalent to 15% of its margin. This cashback is immediately invested into sustainable development projects chosen by the customers themselves. Such projects include carbon offsetting, reforestation, and coral restoration.
Keewe CEO and co-founder, Jean-Yves, articulated the company’s vision: “While regulations are changing and more and more calls for tenders include a section relating to the ecological transition, it seemed obvious to us that the largest market in the world, the forex market, had to contribute its stone to building and contribute to shaping the world of tomorrow.
“Rather than overpaying their bank for their international transactions, our customers can now send and receive currencies anywhere in the world, measure the carbon footprint relative to their suppliers and generate impact thanks to the planet dividend. Keewe wishes to show that green finance must and can go much further than limiting itself to financing issues.”
Currently, Keewe empowers over 450 companies to generate a positive impact through their foreign exchange operations, and with the recent funding, this is set to expand further.
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
