Lune, a climate tech company, has raised $4 million in funding to help companies integrate a climate positive user experience for customers.
Backed by several angel investors, Lune aims to use the funding by offering its API software to companies for their customer payment journeys. Lune looks to shift the narrative from ‘climate impact as a cost centre’ to ‘climate impact as a growth driver’.
With climate impact initiatives viewed as a costly venture, Lune aims to implement carbon emissions calculators and carbon removal systems as an eco-friendly process of the customer payment experience.
“We founded Lune to make prioritising climate impact a no-brainer for growth-minded businesses,” remarked CEO and Co-Founder of Lune, Erik Stadigh.
“By integrating it into their customer experience, businesses increase customer acquisition, engagement, and loyalty – while having a measurably positive impact on the planet. And with Lune’s API and low/no code tools for emissions calculations and carbon removal, we aim to make it so easy that there’s no excuse not to do it.”
Using Lune’s API, companies can calculate carbon emissions of any purchase to neutralise it, whilst also providing the customer an option of which carbon project to forgo.
In addition, payment merchants and networks will also be able to reduce CO2 from the atmosphere with every transaction made.
Roberto Bruggemann, Lune Co-Founder, commented: “An individual payments or software company’s carbon footprint is relatively small. They should put effort into reducing it but, in the grand scheme of things, the impact on fighting climate change will be small.
“However, by giving all of their customers an easy path to contribute to carbon removal, the positive impact is exponential – and far more effective than going it alone.”
According to Lune research, “over 70% of European consumers want a “green payment method” that tackles climate change.” Studies also showed that three in four consumers are more loyal to brands that offset the carbon footprint of a purchase.
In terms of commercialisation, Lune states that it is still in the early stages but has received strong user uptake. Lune is already providing its services to payment firms such as TrueLayer and Yapily.