LONDON–(BUSINESS WIRE)–Twig, a circular economy fintech in London, UK, announces its $35 million Series A funding round. The investment will help the company accelerate the delivery of its Web 3.0 green payment infrastructure and accelerate the deployment of its current suite of financial products.
The Series A investment round is led by UK fintech specialist Fasanara Capital, backed by undisclosed strategic investors, a group comprised of current and former executives from LVMH, Valentino, Balmain, Tod’s, Swarovski, L’Oreal , Barclays, Goldman Sachs and Scalapay.
Twig – a bank of objects: a unique bridge between payments and resale
Twig is driving a disruptive concept in fintech by merging payments with resale, bringing value to users through instant monetization of their items, in a sustainable way. Twig’s mission is to empower consumers to appreciate, unlock and enjoy wealth they never knew they had, best described by its founder, Geri Cupi, as the “bank of things”. Currently, users can sell or trade their fashion clothes and electronics for instant cash, which they use for future purchases.
Twig has been the fastest growing fintech app in the UK since its launch in July 2021, growing over 100,000 monthly downloads and ranking 6th in the App Store’s Top Financial Apps. The company has imminent expansion plans in the EU and the US, the growth of which will be fueled by the capital raised.
As the next beacon of fintech innovation, Twig is rolling out its first-of-its-kind Web 3.0 green payment infrastructure to the market. After “tokenizing” real-world assets and making them tradable in seconds, Twig will allow digital and physical objects to be monetized and traded in new ways. Such an approach will allow users to exchange goods on the payment page and buy cryptocurrencies as well as NFTs by exchanging their clothes or electronic devices.
Additionally, Twig remains committed to contributing positively to the environment in its mission to reduce landfill waste by diverting goods to the used market. Twig is currently in the process of achieving B Corp certification and is a Fellow of the Ellen MacArthur Foundation.
Founder and CEO, Geri Cupi comments:
“Our mission is to empower our consumers to make conscious sustainability choices, and simultaneously unlock wealth in an instant and transparent way, suitable for savvy users in 2022. We have spent considerable time understanding how to both the consumer habits and lifestyle needs of Gen Z and the core Gen Y audience and we believe we can uniquely cater to their needs and a broader audience, now at the international scale. We are excited to be able to expand our product offering and be available in the US and EU this year.
We are excited to lead the Web 3.0 green payment ecosystem and push the boundaries of fintech innovation.
Francesco Filia, CEO of Fasanara Capital mentions:
“Fasanara Capital is thrilled to be part of Twig’s next chapter and lead the Series A investment round, in recognition of the incredible growth the company has achieved in such a short time. We are excited about Twig and Geri’s vision in building the next fintech wave. Fasanara remains committed to Twig’s circular economy mission and proud to support the company and team in their quest for growth expansion’
Twig is a next generation fintech based in London, UK, rooted in the principles of the circular economy, founded by Geri Cupi in 2020, ranked Forbes ’30 under 30′ for its contribution to retail and commerce electronics in 2020. A serial entrepreneur, Geri founded Twig as a result, having gained expertise in blockchain, re-commerce, and circular economy-focused practices.
Twig’s core mission is to empower consumers to enjoy, unlock and enjoy wealth they never knew existed. Users have instant access to cash while depositing unwanted goods, in addition to enjoying the benefits of traditional banking services (debit card, domestic and international bank transfers). Vis-à-vis this activity, Twig propels the circular economy, making Twig a positive and convincing ecological choice for the consumer.
Twig recently published its first white paper ‘How Twig is Redefining the Future of Homeownership and Empowering Gen Z to Live a Sustainable Lifestyle‘ Download: https://twigcard.com/white-paper