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FintechInnovation of the WeekStartupsJune 24, 20220Innovation of the Week – June 24, 2022

by Hunter Sechrest

ecolytiq – Fintech 


What it is: 

ecolytiq provides banks and financial institutions with the digital infrastructure for green finance. Their ‘Sustainability-as-a-Service’ software is available either as a single API SaaS service, on-premise, or via Open Banking partners and processors. They also offer a brandable White Label solution with no integration required on the bank’s side. So far, ecolytiq has successfully integrated with the banking apps of Visa, Neobank Green-Got, Novus, Worldline, and Tink. 

ecolytiq works with financial institutions, individuals, and public organizations to boost sustainability by presenting users with relevant information sourced from the Organization for Sustainable Consumption, a German Non-Profit created by co-founder of ecolytiq, David Lais. The Organization for Sustainable Consumption aggregates financial data, analyzes transactions, and stitches in retailer, supply chain and manufacturing data. Machine learning algorithms categorize the information and compare it with sustainability indices and public information to determine the environmental impact of the purchase. Consumers can use the database to understand the ecological impact their purchases have.  

ecolytiq takes the information from the Organization for Sustainable Consumption, and partners with credit card companies to provide individuals with an overlay of their purchases, and the environmental impact of each of those purchases, within their banking app. ecolytiq also offers a marketplace wherein users can offset their carbon footprint.   

Who Made It? 

ecolytiq was co-founded in 2020 by climate activists Ulrich Pietsch, CEO & David Lais, CPO. Pietsch has decades of experience in building disruptive business models through software and digitalization, particularly in the personalized marketing and customer loyalty areas. He founded department one, a consumer data driven personalized marketing platform, as well as Loyal-UP and 12snap in the mobile marketing space. Lais founded the Organization for Sustainable Consumption. David also serves as CEO of LTVI GmbH, a private equity firm focused on sustainable tech. Previously, he served on the board of We Don’t Have Time, a social network to connect people who want to be a part of the solution to the climate crisis.

Funding status: 

  • ecolytiq raised €13.5M (~$ 14.2M) of venture funding in a deal led by Visa Europe in May 2022. Vukota Capital Management, Segenia Capital, Visa Ventures, btov Partners, Plug and Play Tech Center, and other undisclosed investors also participated in the round.    
  • The company’s recent funding round will be used to further expand its solution to Canada and the U.S. The platform is currently only available in Europe.

Why we like it: 

  • Sustainability is becoming a stronger driver of purchase decisions across nearly every industry. Online searches for sustainable goods grew 71% over the past 5 years, reports The Economist Intelligence Unit in a study commissioned by the World Wildlife Fund (source).  
  • As companies level up their sustainability practices in hopes of seeing an ROI from the greenminded demo, they may be looking for measurable ways to signal their eco-credentials to consumers (source). ecolytiq, especially with Visa’s backing, is a viable solution to this evolving market need.  

Did you know?  

The 18 largest U.S. banks and asset managers were responsible for financing the equivalent of 1.968 billion tons of carbon dioxide equivalent in 2020. If the U.S. financial sector was a country, it would be considered the fifth-biggest emitter in the world, between Russia and Indonesia (source). 


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