A combination of tree planting and fintech is on the way with ReforestPay getting ready to unveil its payment gateway.
The sustainability startup is based in Stroud (Gloucestershire) and says it will plant a tree for every transaction.
ReforestPay explains: “Imagine a world where you vote with your money… where every transaction not only supports the growth of your business but also plants a tree… where every payment made is an investment in the future of our planet.”
The greentech firm is part of the Reforest Group. The latter entity has planted over 20,000 trees to date. ReforestPay aims to “significantly ramp that amount up” and has taken the ‘Million Tree Pledge’ to plant one million trees in the next five years.
ReforestPay’s founders are Bethan and Matt Unsworth. The latter is also a partner in Norwich-based group Million Tree Pledge.
ReforestPay plans to launch sometime this year and is inviting people to register their interest. It will also allocate a percentage of its profits to more tree planting and supporting other environmental projects.
In addition, it plans to have integrations with “most e-commerce platforms”.
The ambition is to make ReforestPay available to merchants in the UK, US, Canada, EU and Australia.
eWeek UK has reported on plenty of other UK-based startups that want a cleaner and better world.
Last month, London-based Expect appeared on the scene to offer a decarbonisation management platform for large enterprises and heavy industries. Also in January, data centre solutions provider Celestro popped up with its green-themed launch.
BT also recently moved to the next phase of its Green Tech Innovation Platform as it seeks to make new friends and profit from the race to Net Zero.
In terms of the bigger picture, there was COP26 in November, where the UK Chancellor talked about the need for “better and more consistent” climate data, sovereign green bonds, mandatory sustainability disclosures, and more.