French's first positive impact neobank offers a digital banking platform that provides eco-friendly investment options and transparent fee structures, enabling customers to align their financial activities with environmental values. The platform addresses the lack of accessible financial services that promote sustainable finance, allowing users to make informed investment choices that support their commitment to sustainability.
Funding
$35.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional banking services often lack transparency regarding the environmental and social impact of investments, leaving customers unaware of whether their financial activities align with their values. Many individuals seek to support sustainable initiatives but lack accessible tools to make informed financial decisions.
Solution
OnlyOne provides a digital banking platform that empowers users to align their financial activities with their environmental and ethical values. The platform offers a current account with a Mastercard debit card made from recycled plastic, enabling users to track the carbon footprint of their spending and make informed choices. OnlyOne also facilitates investments in projects that protect biodiversity, combat climate change, and promote social responsibility. Through its "eco-coach" feature, the platform analyzes user spending, provides personalized recommendations for reducing their carbon footprint, and offers access to a marketplace of sustainable alternatives.
Target Audience
OnlyOne primarily targets environmentally conscious individuals and businesses, including eco-conscious consumers, micro-entrepreneurs, freelancers, and small to medium-sized enterprises (SMEs) seeking transparent and sustainable banking solutions.
Features
- Eco-coach feature to measure and reduce carbon footprint through personalized recommendations
- Scoring system to evaluate the environmental impact of consumption choices
- Marketplace of responsible and ethical alternatives
- Carbon footprint tracking for purchases
- Savings vaults to allocate funds towards sustainable projects
- Aggregation of multiple bank accounts for a holistic financial overview
- Fee-free international payments at the Mastercard exchange rate
- Mobile payments via Apple Pay and Google Pay
- Real-time transaction notifications
- Virtual card option for secure online shopping
- Option to direct interchange fees towards environmental and social projects
- Partnership with ISIC for student discounts and benefits