Reduce Carbon Emissions By Shopping Online
UCapture is a “green technology” company helping consumers offset their carbon footprint.
Its first product is an internet browser extension. This extension — software in the form of a clickable button — provides shoppers with discounts on purchases from websites including Expedia, Walmart, Macy’s, Hilton, and Airbnb.
When the consumer uses the extension, UCapture earns a commission from the purchase. Retailers pay this commission as “green marketing” efforts.
From this commission, UCapture invests two-thirds into verified carbon offset projects. It keeps the remaining one-third for itself.
This product benefits consumers, who receive a discount; retailers, which attract and retain customers; and UCapture, which earns revenue.
According to the World Economic Forum, more than 65% of consumers are worried about climate change. Corporate sustainability efforts are increasing. And more than 500 universities have pledged to be “carbon neutral” — a status achieved when a business balances carbon emissions with carbon removal.
UCapture is assisting in these efforts by targeting the $3 trillion global e-commerce retail market.
The company launched its browser extension in early 2018. In 2019, it was selected for the Bankia FinTech accelerator program, which will take place between February and June 2020.
More than 4,000 users have generated over $55,000 in commissions. This has led to 7,000 tons of carbon offset. From 2018 to 2019, UCapture achieved 152% revenue growth and 180% growth in number of users.
Recently, UCapture was contracted by EnergyAustralia to deliver a white-label version of its technology to the company’s 30,000 customers. UCapture projects to earn $100,000 in revenue from this contract.
Offering a white-label version of its technology is just one of several services the company is working on. With funds raised, UCapture will continue development on current and future products including:
Marketplace: Users can fund various carbon projects. Payments are processed by Stripe, and users can track their contributions through a personal account.
Mobile app: This app will replicate the browser extension’s capabilities and enable shoppers to earn discounts when making purchases.
In-Person: UCapture will bring its business model to more than 20,000 retail stores in the U.S. This will involve a card-linked system that will collect commissions from in-store spending.
Payments: UCapture will expand to payment technologies, such as developing a rewards credit card that funds carbon offsets with every purchase.
Prior to starting UCapture, Avery was a founding partner at Longitude Solutions, a consulting firm focused on risk management.
Before that, he was Head of Longevity at Societe Generale, an investment bank headquartered in Paris. Avery worked in the company’s New York office, focusing on insurance and risk management.
He spent three years as an associate with Deutsche Bank, and began his career as a research assistant at the University of Pennsylvania.
He earned his Bachelor’s degree from UPenn in Finance and Operations Management.
Mark previously worked with Avery as an Associate with Longitude Solutions, Avery’s consulting company.
Before that, he spent two years as a software developer with DriveTime, an automotive retailer and finance company. He began his career as a software developer for TIPSY, a nightlife entertainment and social media marketing company.
Mark earned a Bachelor’s degree in Mathematics from Arizona State University.