Carbon footprint tracker for purchases Enfuce raises €10m
Finnish fintech Enfuce, a start-up showing eight million end users how large the carbon footprint is on their purchases, has just secured €10 million in new funding to scale its newly-launched ‘My Carbon Action’ service.
Led by Finland-based early stage venture capital firm Maki.vc, the financial services partner showing banking customers their impact on the environment also secured venture debt from Nordea, insurance company LähiTapiola, and Finnish state-owned financing company Finnvera.
Read more: Tickr plans to raise capital in 2020 to aid its European expansion
Co-founders Monika Liikamaa and Denise Koskinen
Dubbed the biggest fintech start-up in Finland by Helsinki Fintech Farm – a resource for Finnish fintech activity, the 2016-founded company is now working with the likes of MasterCard, Visa and Amazon Web Services (AWS) to develop its new service.
“Our goal is to help consumers become more carbon conscious, which is why we wanted to create a product that gives individuals accurate feedback based on their actual purchase history and lifestyle,” says Enfuce co-founder Monika Liikamaa.
“Only by bringing individualised and systematic insights can we help consumers make sustainable choices a habit.”
Enfuce’s new service helps banks to track and calculate the carbon dioxide equivalent (CO2e) emissions of every purchase made by their consumers, which then in turn provides insights into each person’s climate change impact.
Read next: Three key steps that can put banks ahead in the sustainability revolution
