Finnish fintech company Enfuce helps banks fight climate change and turn their sustainability efforts into a future-proof advantage.

The startup has created a solution that enables bank customers to calculate and reduce their personal carbon emissions - one payment at a time.

My Carbon Action is a digital tool that allows banks and financial institutions to instantly calculate the carbon footprint of individual transactions. The calculation takes into account the environmental impacts of a product’s entire lifecycle: from raw material extraction, manufacturing, and transport to use and disposal.

The tool is based on a country-specific scientific data model, which ensures that the information is relevant in each use location. Additionally, My Carbon Action is based on users’ own input on individual lifestyle choices. The lifestyle choices can relate to, for example, these main areas:

- Diet - Are you vegan, lacto-ovo vegetarian, or a meat-lover?
- Housing - Do you live in a house or an apartment? How is it heated?
- Mode of transportation - Walking, cycling, public transport, car sharing, or your own car?
- Shopping - What’s the origin of your purchase? How is it shipped and packaged?

“Understanding the context and impact is extremely important. When banks can combine their transaction information with their customers’ lifestyle choices, they can provide advice on more sustainable consumption. This combination is what sets My Carbon Action apart from any other carbon footprint calculator on the market.

From the banks’ point of view, it is easy to get started with My Carbon Action. They can use these APIs flexibly and easily integrate them into their own apps and services. No new apps need to be built,” the company said in its blog.

Founded in 2016 by Monika Liikamaa and Denise Johansson, the startup is one of the few European fintech projects founded by an all-female team.

Enfuce is the leading European Card-as-a-Service (“CaaS”) platform for modern card issuing and processing and is the first to run a card issuing platform fully in the cloud. With Enfuce, clients can bring modern and feature rich end-customer card and payment solutions to the market at unparalleled speed, in weeks rather than months.

The startup has announced a successful €45 million Series C investment round. The new capital will be used to further accelerate growth internationally as well as development of the company’s leading technology platform.

Enfuce has over 13 million active card users on their platform for whom Enfuce processes close to €1 billion transactions annually. The Company recently expanded its geographic presence in Germany and France.

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