Sydney-Based Fintech Bobbob Launches Innovative Carbon-Based Rewards for customers

SYDNEY, Australia - August 10, 2022 -- Australian high-interest investment app Bobbob today announced that it’s offering customers carbon token rewards on all deposits made. For every Australian dollar deposited on Bobbob, customers will now receive 0.065% back in carbon tokens. 
 

Launched in late-April this year, Bobbob has already amassed significant traction in market, offering customers the ability to earn up to 7.60% p.a., and businesses/wholesale investors up to 9.00% p.a. with a fixed term. 

Driven by an ethos for customers to “Save Now and Have More Later”, a jab at the BNPL industry and general over-consumerism, Bobbob partners with large financial institutions who lend the funds at a high interest rate, while Bobbob offers customers the ability to keep every cent made on their money.
 

By directly providing customers with carbon token rewards on their deposits, Bobbob is ushering in a new era of environmental activism, enabling Australians to own and accumulate of their carbon tokens, which can be bought, sold and shared with others in the future.
 

Although retiring Australian carbon credit units (ACCUs) are deemed a financial product and strictly limited to wholesale investors, Bobbob is committed to ensuring that its customers can participate in global sustainability initiatives, while earning a sustainable return on their money. This is why Bobbob is working with Betacarbon’s BCAU token, an Australian-based company tokenising and trading notional carbon tokens (BCAUs), linked to Australian Carbon Credit Units (ACCUs).
 

“Our financial systems as they stand today don’t always act in our best interest,” said Byron Goldberg, co-founder and CEO of Bobbob. “They don’t work in the interest of the planet, and often neither for the customers they serve, enabling quick debt for unnecessary purchases. Just now, interest rates were increased, but I’m yet to see savings rates rise in parity with lending rates - it’s skewed. 

“At Bobbob, we’re on a mission to empower people to improve their financial future, and the future of our planet, by spending less and earning their fair share on every dollar of interest accrued on their hard-earned savings. By encouraging our customers to be more consumer-conscious, we can enact positive change by reducing the amount they spend and consume. This will in turn lessen the demand for products produced which will reduce CO2 emissions, by far the fastest way to lessen the load on our ecosystem.” 

Bobbob recently closed its Pre-Seed round with support from global early-stage VC Antler, DCG subsidiary Luno Expeditions, and a handful of angels.

Bobbob is AUSTRAC registered and is a Corporate Authorised Representative of an ASIC Australian Financial Services Licence holder.