London based start-up TreeCard has raised USD 5.1 Million on 25th of February, 2021 in a Seed funding round led by EQT Ventures. The company has secured a total of USD 6.1 Million in funding over 2 rounds.
Investors: The acquisition of USD 5.1 million funds was held in a seed round held by WQT Ventures along with participation from previous investors like Seedcamp and Episode 1.
What the funding is for: The fresh funding would be utilised for developing and improving their user client interface ecosystem. According to reports the organization is also aiming to expand their reach all over the world.
Founders of the company: Peter Francis, James Dugan and Jamie Cox
Founded date: 2020
About the company: TreeCrad is a partnership type held organization which operates under the Banking industry. Its headquarters is established in London and has a work strength of around 11-50 employees. They also deal with various specialties like consumer finances, banking research and human resource management.
What the CEO has to say: “Interchange fees in the US. are significantly higher than in the EU so this presents a sufficient revenue opportunity for us to perform our restoration investments and cover marketing and management costs. In the EU we are going to be partnering with an exciting retail bank who will provide all our banking infrastructure for free. This will mean that even though our interchange fee cut is lower, it will be sufficient enough to lower our costs in the EU. We will announce the name of the bank shortly.” — Peter Francis, Co-founder of TreeCard.
“TreeCard has the potential to become a leading green finance brand going where no brand has gone before in creating a de facto platform for impactful financial management. At EQT Ventures we are increasingly aware of the environment and the impact that our investments have on the world around us. So, we are really excited to support the TreeCard team who are actively working with the financial system to create a better future for the planet.” — Jamie Cox, Co-founder of TreeCard.
What the investors have to say: “At a high level the climate crisis is the biggest existential risk that humanity has faced in the last 200000 years. We believe directing the flow of the consumer finances is the most powerful way to affect change. We are building a finance company which allows consumers not only to do less damage with their spending but also to actively improve the world.” — General Manager at EQT Ventures.
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