Treecard is an “impact first” business, with 80 per cent of its profits going towards reforestation in 26 countries around the world. Treecard is seeking a similar partnership in the UK. In the US, the company has partnered with Sutton Bank, which holds and protects customers’ deposits with FDIC (Federal Deposit Insurance Corporation) insurance. Treecard is pending regulatory approval in the UK. If you refer a friend, Treecard will plant a tree and jump you both up the queue a little. Treecard will then let you know as soon as the app is live in the UK and you will be given priority access. You will also be asked about your likely spending activity on the card. You’ll be asked to enter your email address, phone number, name, and the country you live in.
#ECOSIA TREE CARD DOWNLOAD#
To order your card, click ‘Get the card’ on the Treecard website, or download the app directly from the Apple App or Google Play store. Treecard is currently only live in the US and is operating a waitlist in the UK and Germany – so far almost 168,000 people have registered an interest in the UK. The prepaid MasterCard is made from sustainably-sourced cherry wood, approved by the Forest Stewardship Council, and recycled plastic bottles.
#ECOSIA TREE CARD FREE#
Since 2016, Ecosia has planted more than 150 million trees worldwide.Ī Treecard account and card is 100 per cent free to use and you can track your spending and environmental impact directly in the mobile app. The company charges retailers a small fee each time you use your card and uses this money to plant trees. The London-based start-up is partnered with Ecosia, a non-profit search engine that plants trees with the money it makes from advertising. For approximately every £48 you spend, one tree will be planted on your behalf. TreeCard will be partnering with fintech platform Synapse, a backend technology provider for banking and financial services, to connect with users in the US while for UK customers open banking will be used for deposit services.Here we look at Treecard – a planet-friendly, prepaid debit card that lets you plant trees as you spend.įounded in 2020, Treecard – which is soon to launch in the UK – is the world’s first wooden debit card that plants trees as you spend. The company will provide challenger bank services like spending alerts, in-app card management, and bill splitting. Users are able to reserve their cards now with the US likely to be the first launch location, Cox said. "We will soon be able to help fight climate change simply by buying a round of drinks in the pub or by doing the weekly shop." "I'm thrilled that Ecosia users will have another way to contribute to the fight against the climate emergency with TreeCard," said Ecosia CEO Christian Kroll. "We approached Ecosia in January about funding because of the synergies and closed the round in the summer."Įcosia has 15 million users worldwide and is run as a B corp and is obliged to put its profits into climate change initiatives rather than into executives' pockets. "I used Ecosia a lot at university and thought 'Why don't we make a fintech version of this,'" Cox told Business Insider. Other founders include Peter Francis, who recently raised $250,000 for refugee camps across Lebanon and Iraq, and James Dugan. The company was founded by 23-year-old Jamie Cox, who previously exited an existing fintech venture called Cashew which went through Y Combinator. TreeCard says it will donate 80% of its profits from interchange fees - the main revenue source for challenger banks - to deforestation initiatives and will be free to use.
Partnering with Ecosia means that for every £45/$60 spent on the card, the company can plant a tree and care for it for three years through the search engine's existing network of 38 tree-planting locations worldwide.
In partnership with Mastercard, TreeCard will offer a brand new wooden debit card to minimise plastic consumption, made from sustainably-produced cherry wood from the UK and recycled plastic bottles. The startup has received $1 million in seed funding from Ecosia, the search engine which has planted more than 110 million trees. That's the idea behind TreeCard, a debit card made from wood launching in 2021.
For some it might be cutting down on meat or flying less, but now people can potentially help fight deforestation with their debit card.
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