Climate Fintech Ecolytiq Provides Free Banking At COP27 Climate Summit

Those who commit to working with Ecolytiq by the conclusion of COP27 will get the whole product suite for free for the first three years.

Ecolytiq, a Berlin-based fintech company that intends to assist banks in enhancing their eco-credentials, is giving its full product suite for free at the COP27 summit of climate-focused governments.

The business, which secured €13.5 million from investors in May 2022, claims that as long as financial institutions agree to collaborating with them by Friday’s conclusion of COP27, they would provide up to three years of free access to their green banking product.

Through a relationship with Visa, Ecolytiq analyses payment data and seeks to engage with financial institutions with at least one million retail clients. Its product portfolio includes tools for impact offsetting and sustainable investment.

“Like many others around the world, we are watching COP27 with bated breath and a cautious hope. We see a lot of passion and ambition to make real progress in fighting climate change, but behind all the conversations a crucial element is lacking – action. Sitting on the sidelines is no longer an option,” said Ecolytiq co-founder, David Lais.

“We need real commitment and swift action from all sectors – especially banking and finance. The question around climate action is no longer ‘if’, it’s ‘how’ and ‘when’” he added.

Visa, PwC Germany via a Segenia Capital-managed fund, VCM Global Asset Management, and BTOV participated in the company’s most recent fundraising round.