Treecard
“Can a values-aligned debit card — where every swipe funds reforestation — become the financial OS for environmentally conscious consumers?”
Founded2020
HQLondon, United Kingdom (US entity: Beaverton, Oregon)
FoundersJamie Cox, Gary Wu, James Dugan
Total raised$28.2M
Latest roundSeries A, November 2021
IndustryFintech / Consumer banking
The story
Founded in August 2020 as a consumer debit card with an environmental mission — 80% of interchange profits directed to reforestation via Ecosia partnership. The product is structured as a prepaid/top-up Mastercard debit card issued by Sutton Bank, positioning Treecard as a non-bank program manager rather than a regulated institution. The Series A in late 2021 signalled ambitions to become a 'green finance super app' encompassing spending, saving, and investing, though the public product footprint as of available evidence remains centred on the debit card and a complementary walking/step-tracker app.
Last 12 months
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Product timeline
2020
Founded in August 2020 by Jamie Cox (Thiel Fellow), Gary Wu, and James Dugan with the concept of a wooden debit card that funds reforestation via interchange fees.· pivot
2021
Raised $5.1M seed round led by EQT Ventures; grew waitlist to 140,000+ organically before launch.· banking
2021
Raised $23M Series A led by Valar Ventures; entered US beta with Sutton Bank-issued Mastercard debit card.· card
2021
Integrated Evervault for PCI-scope-reducing cardholder data encryption as first PCI DSS customer.· banking
2023
Launched Plaid integration for account linking (open banking / funding flows); expanded app with cashback rewards and tree-planting tracker.· banking
The stack
4 layers disclosed in Treecard’s embedded-finance stack
Banking / BaaS
Card issuing
in the full report
Open banking
in the full report
Sponsor bank
in the full report
Accounting gap: none
3 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.