Ando raises $ 6 million funding round

Changing the world can be as easy as changing banks; Ando’s sustainable banking service set to exponentially increase its positive environmental impact

Posted: October 21, 2021 at 9:02 a.m. EDT|Update: 36 minutes ago

SAN DIEGO, October 21, 2021 / PRNewswire / – Sustainable Banking Service Ando announces today a round of seed funding for $ 6 million, directed by Capital TTV and including investments of HOF capital, Kinetic companies and the NNS group. Ando is an alternative to traditional banking, fast growing, respectful of consumers and the planet. So far this year, more than 30,000 Ando customers have helped finance sustainable loans on three quarters of United States. Big banks use their customers’ deposits to finance fossil fuels and other carbon-intensive industries: in the past 5 years, the 60 largest banks in the world have invested more … than $ 3.8 trillion money from their customers in the fossil fuel industry. Ando, ​​on the other hand, is revolutionizing personal finance by investing customer deposits in carbon reduction projects that tackle climate change and providing full transparency on where it invests customer money. clients.

“We believe there is a compelling need for innovation and advancement in the financial industry,” said Gardiner Garrard, co-founder and managing partner of TTV Capital. “Ando’s sustainable banking solution provides customers with modern banking functionality, including, for the first time ever, the ability to dedicate 100% of their bank balance to fund sustainable investments. No other banking institution offers this, and we are delighted to partner with Ando. to bring sustainable banking to millions of customers. “

Other investors cited differentiators, including Ando’s sleek and user-friendly platform; mission-driven leadership and potential for massive, world-changing impact. Investors have also taken into account that consumers are increasingly interested in making socially conscious decisions (according to a recent BBMG / GlobeScan study to study, for example, 74 percent of people under 30 around the world say they have been personally strongly or moderately affected by climate change or global warming).

Ando launched in January 2021 as the only banking service that uses customer deposits to fund solar initiatives and other carbon reduction projects. This active role in the fight against climate change is free for Ando users, who benefit from a full suite of the most desirable banking features, including best-in-class security, FDIC protection, bonuses to refer friends, free overdraft protection and the opportunity to get paid up to two days in advance. Quite simply, banking with Ando is the best of personal banking services and the easiest way to have a constant and profound impact on reversing the devastating effects of climate change. Ando is B Corp certified and has teamed up with a legendary climber Alex Honnold to raise awareness of the “dirty secret” of the banking sector.

Ando routes customer deposits to sustainable initiatives by partnering with local banks and credit unions; Together, Ando and partner banks fund thousands of sustainable loans to homeowners and businesses across the country. Current partner banks include WebBank and Virginia Community Capital, with loan recipients, including home owners, community gathering places, fire departments, veterinary clinics and other local businesses.

These local banking partnerships help Ando to quickly and efficiently channel customer deposits to projects that will have an immediate and positive environmental impact. At the same time, local banks can leverage Ando’s national platform to achieve their own sustainability goals faster.

“There are over 9,000 community banks and credit unions across United StatesAndo Founder and CEO JP McNeill explained. greens at no cost to their account holders. If Ando can help community banks increase their green lending by just 1%, that would be equivalent to $ 33 billion value of green loans. “

About Ando:
Ando is the leader in sustainable banking, disrupting the traditional banking industry by investing client money exclusively in green initiatives such as renewable energy and responsible agriculture, potentially giving users 27 times the impact of other actions environmental. In addition, Ando is 100 percent transparent about where these investments are made. These are just two of the many reasons Ando was named a Certified B Corp, a recognition of his commitment to building a sustainable and inclusive economy that works for everyone. Ando users pay no monthly fees while taking advantage of the option of easy prepayments and transfers from old accounts. To find out more visit www.andomoney.com.

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