Mitto, a Spain-based payments app, is now seeking £500,000 through its equity crowdfunding campaign on Crowdcube. Founded in 2019, Mitto states it is an app linked to a card that makes it easier for users to consume in a more conscious and sustainable way.
“With Mitto, you can spend anywhere. But, Mitters really put their conscience into action by using their card at recommended stores and brands with a high sustainability profile. And guess what, they receive cashback on every transaction.”
Mitto further explained that it is building a community of activists, empowered to consume more responsibly and understand the impact of every purchase they make. The company noted that its solution is an app that is connected to a payment card that integrates seamlessly with existing bank accounts. Features include:
- Users can immediately see an approximation of the CO2 impact of their purchase
- Users are shown sustainable alternatives from partner brands that fit with Mitto’s mission
- Users can then get instant cashback and other discounts when they purchase from Mitto’s partner brands
Mitto went on to add its model encourages free users to upgrade to a premium monthly subscription that gives them additional insights into their spending and extra rewards. Funds from the Crowdcube round will be used to continue the expansion of the Mitto platform. The company added that prior to the Crowdcube campaign the company signed a convertible loan for €500,000 on the same terms and conditions as those offered to Crowdcube investors. The campaign is set to close mid-September.
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