Sustainable money app Zero goes live

Editorial

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Zero cofounder Richard Theo is a serial entrepreneur who founded Wealthify, ActiveQuote and Fintech Wales. The startup raised its seed funding round in 2023 from notable investors including the Development Bank of Wales and is now opening up for a crowdfunded seed extension round.

This follows an early adopter phase which lasted two months, in which more than 5000 people registered for early access.

The firm is partnering with a range of suppliers to bring the product to market, including Mastercard, Transact Payments, Integrated Finance, Marqueta, Onfido, Flagright and Kani.

In addition to a 95% recycled plastic debit MasterCard that can be used abroad free from additional ATM or point of sale charges, Zero’s app includes the GreenScore, an easy way for people to understand the environmental impact of their spending on their Zero card and other cards and accounts through open banking connections, alongside personalised recommentations to help them reduce their carbon footprint.

Says Theo: ‘Our vision is a world where money is a force for the good of the planet. We’re aiming to fill a much-needed gap between digital banking features and effortless sustainability that simply isn’t available currently.”

He says the startup may later apply for a full UK bank licence to provide a wider range of products and services, such as a range of sustainable lending products.

Early adopters will be offered 400 Community Share Options – up to a value of 20% of the business – with the aim of building loyalty and driving collective action.