Sustainable finance application Zero is preparing to launch its investment round on Crowd Cube as it introduces its debit card, personal current account, and app tailored for environmentally conscious consumers.
Richard Theo, co-founder of Zero and a seasoned entrepreneur with a track record that includes founding Wealthify, ActiveQuote, and Fintech Wales, announced that the startup successfully completed its seed funding round in 2023 with the support of prominent investors, such as the Development Bank of Wales. The company is now embarking on a crowdfunded seed extension round to further its growth.
This initiative comes after a successful two-month early adopter phase in which over 5,000 individuals signed up for priority access to the app. Zero is collaborating with several industry partners to bring its product to market, including Mastercard, Transact Payments, Integrated Finance, Marqueta, Onfido, Flagright, and Kani.
Among its innovative features, Zero offers a 95% recycled plastic debit Mastercard that allows users to make purchases abroad without incurring additional ATM or point-of-sale fees. The app also incorporates a unique GreenScore, which provides users with insights into the environmental impact of their spending—both with the Zero card and across other accounts linked through open banking integrations. Additionally, it offers personalized suggestions to help users minimize their carbon footprint.
Theo stated, “Our vision is to create a world where financial resources contribute positively to the planet. We aim to bridge the gap between digital banking features and seamless sustainability, which is currently lacking in the market.”
Looking ahead, the startup may seek a full UK banking license to expand its offerings, potentially including a variety of sustainable lending solutions.
In an effort to cultivate loyalty and encourage collective action, early adopters will be granted 400 Community Share Options, equating to up to 20% ownership in the business.