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Mishcon de Reya supports ekko in securing $2.5 million funding round

Posted on 16 May 2024

Mishcon de Reya has supported the $2.5 million funding round for London-based climate fintech, ekko. The round, led by Fuel Ventures and supported by Sorven and existing investors, will enable ekko to continue its work in integrating sustainability into financial services, allowing banks, fintechs, and payment providers to include planet-positive impacts in their products.

ekko has established partnerships with fintech Volt, Primis, and Stubben Edge, and has launched the Planet Saver Account with Akoni Hub and BLME. These steps demonstrate ekko's role in the climate tech sector and its commitment to using financial technology for environmental change.

The funding will be used to support ekko's innovation, international expansion, and product development. ekko aims to provide financial institutions with the means to empower their customers and meet environmental goals by incorporating sustainability into financial products.

ekko collaborates with impact partners such as Gold Standard, Conservation International, Tusk, and Prevented Ocean Plastic, contributing to carbon compensation, reforestation, conservation efforts, and the prevention of ocean plastic pollution. The capital raised is part of ekko's strategy to take immediate climate action while maintaining commercial viability.

The investment from Fuel Ventures, a venture capital firm specialising in pre-seed and seed investments, adds ekko to a portfolio of technology enterprises. The additional backing from Mishcon de Reya and Sorven indicates a demand for climate technology solutions, with ekko positioned to meet this demand.

Oli Cook, co-founder and CEO of ekko, commented: "This fundraise is a recognition of ekko's potential and the importance of our mission. The support from investors like Fuel Ventures, Sorven, and Mishcon de Reya is a testament to our scalable business model and our commitment to making a significant environmental impact. We are eager to leverage this investment to further our product development and expand our influence through our impact partners."

Mark Pearson, Managing Partner & Founder at Fuel Ventures, commented on the investment: "We are always on the lookout for tech businesses that are poised for rapid scaling. ekko's unique blend of sustainability and fintech presents a clear opportunity for growth. With increasing demands for the fintech and banking sectors to adopt sustainable practices, ekko's leadership team is well-equipped to lead this transformation. We are excited to support ekko's journey to the next stage of development."

Chris Keen, Partner and Head of the Emerging Companies group at Mishcon de Reya, commented: "We are very pleased to be involved in this funding round for ekko. At Mishcon de Reya, we recognise the importance of supporting innovative companies that are committed to making a positive impact on the environment. Our involvement with ekko reflects our broader commitment to businesses that are driving change, not just within the financial sector, but across all industries."

For more information about ekko and its initiatives, please visit www.ekko.earth.

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