New UK climate fintech Zero gears up for end-of-year launch

Launch Timeline: Zero, a climate-focused fintech based in Cardiff, Wales, plans to launch its full range of financial services by the end of 2024.
B Corp Certification: The start-up achieved B Corp certification in July 2024, demonstrating its commitment to social and environmental performance.
Services Offered:
- Digital Account Services: Includes a Mastercard-powered debit card, personal current account, and a finance app focused on sustainability.
- Sustainability Features: The app analyzes spending data to identify lifestyle choices impacting climate change and provides personalized solutions to help users reduce their carbon footprints.
Target Market: Aims to serve climate-conscious Gen-Z and Millennial consumers (ages 18 to 34), addressing a gap between digital finance and sustainability.
Funding and Ownership Model:
- Seed Funding: Secured in 2023 from investors including the Development Bank of Wales and 24 angel investors.
- Seed Extension Round: Currently seeking additional capital.
- Community Option Scheme: Plans to share 20% of the business value with customers through this scheme.
Future Goals:
- Banking Licence: Aims to secure a full UK banking licence to offer sustainable lending products.
Industry Activity: Recent notable funding rounds in the climate fintech space include Doconomy’s €34 million Series B, Climate X’s $18 million Series A, and Berlin-based Cloover’s $114 million seed round.