NAB Ventures leads investment in Greener

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Greener, recognised as #1 cleantech Australian startup, has today announced it has raised a strategic $4M AUD seed funding round, led by NAB Ventures.

The funding, with participation by RealVC, will kickstart Greener’s establishment of a new ‘Green Economy’ to reduce carbon emissions.

300g of CO2 is attached to every dollar spent, and globally, we spend $184 billion every day.[1] Greener is on a mission to make every dollar we spend carbon-neutral and help end climate change by bringing together consumers and businesses committed to making better choices for the planet. As the driving force behind the ‘Green Economy’ and an Australian certified B Corp, Greener supports both consumers and businesses on the journey to a greener future, with brands of all sizes partnering with Greener to make everything they sell carbon-neutral.

Greener’s business model is centred around simplifying the decision-making process; making sustainable choices easier to make, and reducing and offsetting emissions from both sides of retail. With 88% of consumers wanting businesses to help them live more sustainably[2], Greener’s double-sided tech solution helps Aussies understand their carbon impact and shop smarter by connecting sustainable brands with shoppers looking to make a difference. Greener also provides businesses starting their sustainability journey with personalised pathways to reduce their carbon emissions and join the ‘Green Economy’.

Since its inception, Greener has partnered with brands also on a sustainable journey such as Microsoft, T2 Tea, Afends, Scoop Wholefoods, Brew Dog, Huskee and Go for Zero to form a coalition of brands driving Australia towards carbon neutrality. Earlier Greener trials have achieved incredible results, including:

  • Greener businesses saw upwards of 10% customer growth with shoppers choosing to switch to Greener businesses from non-green competition.
  • Helped shoppers reduce the emissions of their purchases by 23%.

“Sustainability can be complicated, and the more you learn the more difficult it gets. But it doesn’t have to be. That’s why we’re focused on simple solutions that are underpinned by a positive message of hope,” said Tom Ferrier, Founder of Greener. “By rewarding greener businesses with new customers, and helping consumers take action at no cost, we can drive unprecedented impact. If everyone got behind the Green Economy just here in Australia, we could help take the equivalent of 58 million cars off the road each year.”

As one of the big four Australian banks, NAB Ventures’ investment partnership with Greener opens up exciting opportunities that could see Greener help NAB with its climate strategy ambitions.

“We all have a part to play in climate action and NAB certainly recognises our role,” said Todd Forest, NAB Ventures Executive. “We’re continuously looking at ways we can support our customers and colleagues to take action to reduce their carbon footprint and we think Greener’s product has great potential. Greener is an excellent fit for NAB Ventures and we look forward to working with them and exploring further opportunities together.”

Reducing emissions is key to helping end climate change, and with support from its investment partners, Greener is continuing to rapidly scale the ‘Green Economy’, making it easy for consumers to reduce their impact every time they spend, and connecting sustainable brands with Greener shoppers while providing businesses with personalised solutions to become greener.

“At RealVC, we invest in startups led by purpose, and we’re particularly excited about backing Aussie businesses that are driving sustainability,” said Paul Saunders, Investment Partner at RealVC. “Greener’s simple yet innovative business model presents an opportunity to drive real change by putting people and businesses at the centre of the climate solution and making greener choices tangible. We look forward to supporting Greener as they roll out their game-changing offering and turbocharge the Green Economy.”

NAB Ventures and RealVC join existing Greener backers including former CEO of Australian Ethical Phil Vernon. Greener has also partnered with the City of Sydney and the Australian Retailers Association (ARA) to help their members accelerate their net zero journeys.

-ENDS-

[1] Macro Trends
[2] Forbes

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