Climate FinTech Zero, a FinTech aiming to revolutionise the finance industry with a sustainability focus, has announced a suite of strategic partnerships as it gears up for a significant launch later this year.
The UK-based finance app, specifically designed for the climate-conscious 21-34 age group, has aligned with various leading organisations to enhance its offerings.
Among the collaborators are Mastercard, which will act as the debit card scheme, and Transact Payments, fulfilling roles as BIN Sponsor, Card Issuer, and e-money handler. Additionally, Flagright will oversee transaction monitoring, while Marqeta will handle transaction processing. Other partners include TAG Systems for card manufacturing, Onfido for identity verification and KYC, Kani for reconciliation, and Plaid for open banking connectivity.
Zero is set to operate under e-Money regulations initially, offering users a card, personal current account, and an innovative app focused on sustainability. The company also has ambitious plans to secure a full UK bank licence to expand into sustainable lending products.
Climate FinTech Zero cofounder and CEO Richard Theo highlighted the company’s core mission: “Our vision is a world where money is a force for the good of the planet. Where money will never be used for anything that isn’t getting us to net zero as fast as possible.”
He added, “We’re aiming to fill a much-needed gap between best-in-class digital finance features and effortless sustainability that simply isn’t currently available to our Gen Zero target market of four million climate active 18-34 year old Gen-Z and Millennial consumers.”
The app is designed to analyse customers’ spending data to pinpoint how their lifestyle choices impact the climate. By offering personalised insights and actionable recommendations, Zero aims to educate and empower users to reduce their carbon footprints significantly.
David Craven, COO of Zero, expressed excitement about the partnerships: “We’re delighted to have secured partnerships with this impressive list of organisations. Choosing the right partners is crucial for success. Zero has selected those that share in our mission and vision, as well as enable us to offer a best-in-class product and experience to our end-users.”
Set to launch later this year, Zero is supported by a diverse team and a robust group of 24 angel investors and advisors. The firm has already secured its seed funding in 2023, with notable contributions from the Development Bank of Wales, and is currently in the process of raising a Seed Extension funding round. Furthermore, Zero is pioneering a new Community Option Scheme, pledging to share 20% of its business value with its customers, promoting a model of collective action.
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