Tallinn-based Single.Earth has been named the winner of this autumn’s Mastercard Lighthouse FINITIV 2021.
FINITIV is an open innovation programme that gives start-ups the opportunity to partner with Mastercard, OP Financial Group, Swedbank, SEB, Danske Bank and DNB.
Single.Earth has a unique solution to combat climate change and preserve the environment.
Single.Earth works to make it easy for consumers to save nature and help slow global warming through their transactions. With a new type of payment method, Single.Earth is helping to reduce global emissions by rewarding landowners who protect nature with so-called Merit tokens, a digital currency. The solution uses satellite imagery, big data analysis and machine learning to create a digital twin of the Earth. This is then used to digitally map how soils sequester carbon and conserve biodiversity. Single.Earth’s solution is funded by EQT Ventures and Icebreaker.vc.
“We need new solutions to combat the climate crisis. Single.Earth innovatively encourages landowners to conserve biodiversity. Solutions presented through Lighthouse enable this development. It is also important that banks and other companies take their responsibility and participate in the journey towards a more sustainable future. Although Single.Earth’s solution is “outside the box”, it has won everyone’s trust. It’s great to see how much engagement Single.Earth has received through FINITIV and we look forward to continuing to support their growth,” says Mats Taraldsson, Head of Innovation, Fintech and Impact tech Engagement, Mastercard Nordics and Baltics.
As the winner, Single.Earth will have the opportunity to pitch their company to Mastercard’s global Start Path initiative, a programme to help start-ups.
“We are pleased to see that startups are starting to focus more on sustainability and that it is one of the main directions in SEB’s strategic agenda. Congratulations to the winner Single.Earth in the Mastercard Lighthouse FINITIVE. SEB has been working with the program since it was established in 2018 and this program is one of the best sources to connect with high quality startups. It is a great opportunity for both sides to mix skills, share knowledge and build smart solutions for customers and society,” said Giedrė Ramanauskaitė, Innovation Manager at SEB.
In addition to Single.Earth, EASI was named the most promising Swedish fintech company and Bleam received the same award for Finland. The next edition of Mastercard Lighthouse FINITIV will start in March 2022 and will focus on Denmark, Norway and the Baltics. The application is open and companies can apply here.
“Our team at Single.Earth has worked hard to make this happen. The Mastercard Lighthouse program was a great opportunity to connect with companies in the financial sector across the region,” said Merit Valdsalu, CEO and Founder of Single.Earth.