Businesses in Wales backed for expansion

Here we feature the latest acquisition and equity news in Welsh business

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SUSTAINABLE money app Zero has launched its second crowdfunding campaign via the Crowdcube platform.

Since its launch in February, Zero has registered more than 12,000 users, processed £1.1m worth of payments, and completed more than 415,000 “GreenScore” transactions helping customers understand and reduce the environmental impact of their spending.

The Cardiff-based fintech also became B Corp certified venture, joining the Tech Zero coalition with published net zero targets, and achieved operational carbon removal of 110% of its 2024 emissions.

The business was funded by the founders, secured a pre-seed round of £1.25m in September 2023 with a seed round of £1.4m in March this year. In its latest fundraising, Zero has secured £417,00 from private investors to date while seeking to secure a further £333,000 through Crowdcube - where to date it has received investment of £132,000.

Richard Theo, co-founder and chief executive of Zero, said: “Our vision is a world where money is a force for the good of the planet, and never invested in activities that harm the planet.

“We've proved there's strong demand for a green alternative in personal finance, and this next funding round will help us expand our reach and impact in the year ahead.”

Long-term, Zero plans to become a regulatory approved bank.

Moka United

Moka United has completed the acquisition of Wrexham-based fintech Affiniture Cards, following approval from regulator the Financial Conduct Authority (FCA).

Affiniture Cards is authorised for consumer credit and also as a payment institution. The company has owned the UK franchise for the Diners Club International brand since 2012 and offers its diversified customer base innovative payment solutions and short-term credit facilities.