Zellar secures £600k seed investment from The Co-operative Bank to advance platform developments
The Co-operative Bank provided the funding in exchange for a two percent equity stake, marking the opening of a £3m seed round.
Zellar provides a digital platform that calculates sustainability scores for businesses. It helps organisations measure, plan and report their environmental progress.
Sustainability platform Zellar has secured £600k in seed funding from The Co-operative Bank in exchange for a two percent equity stake. The investment follows a previous initiative in which the bank provided subsidised platform access to its SME customers.
Zellar plans to allocate the capital towards ongoing platform enhancements, specifically aimed at tailoring sustainability journeys across multiple business sectors. The transaction marks the opening of a wider funding drive, with the company seeking an additional £2.4m to support product development through 2023.
From the founder
"As the UK high street bank with the best ESG score from independent analysis, The Co-operative Bank is a perfect investor for Zellar. We hold so many shared values. We both believe passionately in cutting though the greenwash and driving meaningful environmental change, and helping local businesses and their wider communities to take action. The overwhelming interest shown by The Co-operative Bank’s customers following our launch programme in June this year, is a real confirmation of the synergies between our two companies. This investment will help us to deliver an even better, more meaningful experience to our shared customers and beyond."
Gary Styles
Founder and CEO at Zellar
Use of funds
- 01Continue product development
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About the company
Zellar
Zellar provides a sustainability scoring platform that helps businesses measure and reduce their environmental impact.