Mympact sets base in Germany

Incorporated in October 2021, mympact is a sustainable bank account that helps people to track, reduce, and engage on their impact to become carbon neutral. The mympact app connects with users’ bank accounts to provide real-time insights into the CO2 footprint of all their purchases. The startup collaborates with Greenly to determine the carbon footprint of purchases. By combining macro-economic data from input-output tables of the national accounts with physical environmental accounts, mympact can track the Green House Gas (GHG) emissions of various economic sectors and break them down to the purchase level. Personalised recommendations, sustainable alternatives and gamification features in the app empower users to become proactive.

In March this year, the startup closed its CHF 450’000 pre-seed round, which included CHF 150’000 by the F10 Switzerland AG and CHF 300’000 by six experienced Business Angels with backgrounds in Fintech, Sustainability & Marketing from Switzerland and Germany. The funds enabled the company to accelerate development to speed up the time to market and expand the team.

The beta version is live and ongoing, with the first dozens of users registered on the platform. “We are following a cohort-based approach and are onboarding new users weekly”, says Christian Sutter, co-founder of mympact. Next to the quantitative feedback, the startup is conducting qualitative user interviews to enhance the app. German-based users interested in testing the app can sign up to become beta users.

Berlin office opening soon
Emerging as a born global startup, mympact plans to open its solution in the German market before expanding to other regions. The startup is currently setting up an office in Berlin, with the official launch scheduled for Q4/2022.

Explaining the company’s decision to move to Berlin, Sutter says, “Germany has a bigger market, high interest in adopting sustainable solutions and an established Open Banking infrastructure. Berlin is a hotspot for sustainability and has one of the world’s best startup ecosystems – thus the decision was easy”.

(RAN)