TreeCard, an eco-friendly wood debit card, uses merchant transactions to plant trees. The UK-based fintech firm that sells these wooden cards raised $5.1 million in seed funding to fund reforestation. The new wooden debit card was founded by four Londoners and is the first of its kind in the world. It helps plant trees each time you make a purchase. TreeCard is backed by Matt Robinson, the founder of GoCardless, Paul Forster (founder of TreeCard), and Charlie Delingpole (founder of ComplyAdvantages). EQT Ventures funded the project with a stake of Seedcamp Episode 1 and provided initial funding.
Jamie Cox Gary Wu and James Dungan say that their debit cards will reduce plastic waste in the world and channel profits to vital tree planting initiatives. Ecosia is a supporter of TreeCard and the tree-planting search engine. It’s also the “world’s first pure wood debit card”, and it transfers 80% its profits to forest around the globe.
The TreeCard is a good option for those who are looking to have a more environmentally friendly bank account. It can be used with your bank so you do not have to change banks. You can also track your spending with their app and share your bills with your friends. This way, you can see how many trees you’ve planted and how long you still have left. TreeCard is compatible with Apple Pay, Android Pay and Samsung Pay. You can use it like a virtual card. After linking the TreeCard application to your bank accounts, you can make purchases using the app. Each transaction washes away a portion from the issue fee to a tree planting project by Ecosia Green.
This debit card allows you to plant a new tree with every payment. The FSC cherrywood debit cards we use to return money to donors who are environmentally conscious are made out of wood, not plastic. According to Ecosia, more than 300,000. cards can be made from one tree.
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