Company:Yayzy

From HandWiki
Yayzy
TypePrivate limited company
IndustryFinTech, CleanTech
FoundedOctober 21, 2019; 3 years ago (2019-10-21) in London, England
FounderMankaran Ahluwalia[1], (CEO)
Cristian Dan[2], (CTO)
Pedro Cabrero Nassar[3], (CFO)
Headquarters,
England
ProductsCO2 Purchase Analysis as B2B API, iOS and Android Mobile apps for B2C
Websiteyayzy.com

Yayzy is a London-based software company that develops applications for calculating carbon emissions metrics, based on a consumer's purchasing behaviour.[4] It offers mobile apps, making its revenue from the resale of carbon offsets that purport to negate the user's carbon footprint.[5] It also provides this technology to banks and fintechs, as an application programming interface, to offer CO2 tracking, calculation, reduction and offsetting to their customers.[6] The company uses machine learning and big data analysis to assess purchases and provide users with carbon emissions data associated with their purchases.[6]

History

Yayzy was founded in London in 2019 [4] in the Antler Startup accelerator.[7][8]

Yayzy graduated from Antler Accelerator in 2020,[9] built the first version of their iOS app[10] which was featured in the AppStore[11] then developed an Android app[12][13] while raising funds to build the technology for the API and to expand into green investing.[14][15]

The company announced in 2022 that they had expanded their capacity in order to connect bank accounts in 30 countries including the European Union, the United States and Canada.[16]

Products & services

Mobile App

Yayzy's principal product is a mobile app that the company claims automatically calculates the environmental impact of a user's spending by connecting to their bank account's purchases,[17] using the Open Banking standard.[18] It also provides users with suggestions for more environmentally friendly alternative merchants, as well as greener personal behaviours and more effective means of mitigating their carbon footprint with carbon offsetting project investments.[4]

B2B API

The company offers B2B API software to help financial institutions integrate carbon footprint calculations and the purchasing of offsets into their proprietary apps and web platforms[19]. This API allows banks and fintechs to provide their customers with individualised carbon emissions metrics associated with their purchases, and buy offsets to mitigate their carbon footprint. IBM has partnered with Yayzy, hosting the API cloud infrastructure and selling the API to IBM's financial sector customers.[20].

Fundraising

Yayzy was funded by Antler VC[21] in a pre-seed round announced in November 2019.[9] It secured another seed round in 2020 from Teal Impact VC[22][23] and Pario Ventures,[24] as well as a crowdfunding campaign[14] with 1002 investors.

Awards and recognition

The company has been noted in tech media including TechCrunch,[4] Forbes Romania,[16] BBC TV,[25] Sifted,[26] The Independent,[27] Business Insider.[28][29] Yayzy also won several awards (PwC Future50,[30][31] Digital Top50,[32] Product Hunt's Golden Kitty Awards #3,[33] P.E.A Awards,[34] World Festival Innovation Awards[35]) and was featured in January 2021 by Apple as "App of the Day" in AppStore[36] and by UK Government in their Net Zero Innovation Handbook in August 2022.[37][38]

References

  1. Leigh, Dana (2022-02-02). "A Chat with Mankaran Ahluwalia, Co-Founder and CEO at Carbon Footprint Calculator: Yayzy" (in en-GB). https://techround.co.uk/interviews/a-chat-with-mankaran-ahluwalia-yayzy/. 
  2. Pană, Irina (2021-10-01). "Forbes 30 sub 30 - 2021. Cristian Dan, Yayzy: „Plănuim să lansăm Yayzy în Europa continentală și de Est” - Forbes.ro" (in ro-RO). https://www.forbes.ro/articles/forbes-30-sub-30-2021-cristian-dan-si-aspiratorul-digital-de-co2-232128. 
  3. "Yayzy – LBS" (in en-US). https://foundersbook.eclublbs.com/yayzy/. 
  4. 4.0 4.1 4.2 4.3 Butcher, Mike (2020-12-23). "Yayzy app automatically calculates the environmental impact of your spending" (in en-US). https://techcrunch.com/2020/12/23/yayzy-app-automatically-calculates-the-environmental-impact-of-your-spending/. 
  5. "FAQs - Frequently Asked Questions". https://www.yayzy.com/faq. 
  6. 6.0 6.1 "Yayzy and IBM Cloud partner to bring Carbon Tracking & Reduction Solution to Banking and FinTech Customers". https://www.yayzy.com/blog/yayzy-ibm?trk=organization_guest_main-feed-card_feed-article-content. 
  7. "New-wave startup accelerator Antler expands in London with new hires" (in en-US). https://finance.yahoo.com/news/newwave-startup-accelerator-antler-expands-in-london-with-new-hires-060042042.html. 
  8. Cooper, Lanna. "Antler Demo Day: The next big wave of tech" (in en). http://startupsmagazine.co.uk/article-antler-demo-day-next-big-wave-tech. 
  9. 9.0 9.1 "Meet the 13 UK Companies Who Just Raised £1.56 Million | Antler". https://www.antler.co/blog/meet-13-companies-antler-london. 
  10. "‎Yayzy Footprint Calculator" (in en-US). https://apps.apple.com/us/app/yayzy-footprint-calculator/id1487641295. 
  11. "‎App of the Day: Yayzy Footprint Calculator" (in en-GB). https://apps.apple.com/gb/story/id1539957783. 
  12. "Yayzy's Twitter Post" (in en). https://twitter.com/Yayzyapp/status/1374010393128022020. 
  13. "Yayzy launches 'Fitbit for Carbon'" (in en). 2020-12-11. https://www.finextra.com/pressarticle/85451/yayzy-launches-fitbit-for-carbon. 
  14. 14.0 14.1 "Yayzy" (in en-US). https://www.seedrs.com/yayzy. 
  15. "UK Banking App Yayzy To Close Seedrs Campaign With More Than £625,000 In Funding Secured | Crowdfund Insider" (in en-US). 2020-10-09. https://www.crowdfundinsider.com/2020/10/167799-uk-banking-app-yayzy-to-close-seedrs-campaign-with-more-than-625000-in-funding-secured/. 
  16. 16.0 16.1 Boeru, Ingrid (2022-08-03). "(P) Yayzy a ajuns și în România și în alte 30 de țări europene - Forbes.ro" (in ro-RO). https://www.forbes.ro/yayzy-a-ajuns-si-in-romania-si-in-alte-30-de-tari-europene-280260. 
  17. "London startup YAYZY launches app to track carbon emissions" (in en-GB). 2020-12-23. https://www.uktech.news/news/london-startup-launches-app-to-track-carbon-emissions-20201223. 
  18. "Yayzy to help use Open Banking for off-setting carbon emissions" (in en). https://thepaypers.com/online-mobile-banking/yayzy-to-help-use-open-banking-for-off-setting-carbon-emissions--1246402. 
  19. "Fintechs Forging the Future of Financial Services" (in en). 2022-12-19. https://www.finextra.com/blogposting/23431/fintechs-forging-the-future-of-financial-services. 
  20. "Yayzy and IBM Cloud partner to bring Carbon Tracking & Reduction Solution to Banking and FinTech Customers" (in en-gb). https://uk.newsroom.ibm.com/announcements?item=122791. 
  21. "Antler invests £1.56m in companies founded on its UK program" (in en-GB). 2020-01-22. https://www.uktech.news/news/antler-invests-156m-in-13-tech-companies-founded-on-its-first-uk-program-wednesday-2pm-20200120. 
  22. "TEAL Impact vc" (in en). https://tealimpact.vc/. 
  23. "Meet 50+ European sustainability angel investors" (in en-US). 2021-08-12. https://sifted.eu/articles/sustainability-angel-investors-europe/. 
  24. "Portfolio" (in en). https://www.parioventures.com/portfolio. 
  25. (in en) Yayzy show how you can fight climate change - BBC interview, November 2021, https://www.youtube.com/watch?v=FlXCRRrPuAs, retrieved 2023-01-14 
  26. "Fintech gets green: The startups mixing money and climate activism" (in en-US). 2021-02-23. https://sifted.eu/articles/fintechs-going-green/. 
  27. "Five financial apps to save the planet" (in en). 2021-11-17. https://www.independent.co.uk/money/financial-apps-reuse-save-free-help-food-clothes-green-eco-b1958402.html. 
  28. Coulter, Martin. "More than 1,000 UK startups collapsed under COVID-19. We asked 6 founders how they pulled through the pandemic." (in en-US). https://www.businessinsider.com/tech-startups-covid-19-future-fund-2020-9. 
  29. Burroughs, Martin Coulter, Callum. "Check out the 25 startups tackling climate change ahead of COP26, handpicked by Europe's biggest VCs" (in en-US). https://www.businessinsider.com/climate-change-environmental-technology-startups-2020-11. 
  30. PricewaterhouseCoopers. "The PwC Net Zero Future50" (in en-gb). https://www.pwc.co.uk/issues/esg/the-pwc-net-zero-future50.html. 
  31. "PricewaterhouseCoopers Net Zero Future 50". https://www.pwc.co.uk/issues/esg/pdf/net-zero-future-50-2022.pdf. 
  32. "Digital Top 50 Awards | DT50" (in en). https://www.dt50.org/. 
  33. "Announcing the 2020 Golden Kitty Award Winners" (in en). https://www.producthunt.com/stories/announcing-the-2020-golden-kitty-award-winners. 
  34. Sockett, Anna (2021-10-23). "P.E.A. Awards 2021: The Winners Announced" (in en-GB). https://www.peaawards.com/p-e-a-awards-2021-the-winners-announced/. 
  35. "Top 50 Startup Award Winners | WorldFestival" (in en-US). https://worldfestival.com/awards/top-50-startup-award-winners/. 
  36. "‎Be carbon concious : App Store Story". 2021-01-06. https://web.archive.org/web/20210106122752/https://apps.apple.com/gb/story/id1539957783. 
  37. "UK Net Zero Innovation Handbook Unveiled" (in en). https://www.gov.uk/government/news/uk-net-zero-innovation-handbook-unveiled. 
  38. Louise, Cantillon (August 2022). "Net Zero Innovation Handbook". https://eu-admin.eventscloud.com/docs/200008108/200179015.