Consumers are increasingly interested in contributing to a circular economy. Twig, formerly known as DIEM, is a fintech company that wants to address this market by building 'the bank of things' - a banking app that allows users to instantly exchange their things for cash, empowering them to reduce their waste and live a more sustainable lifestyle.
The innovation of Twig comes from its proprietary pricing algorithm based on machine learning that can evaluate the resale market value of customers' items. It does this by analyzing reselling prices across all existing platforms, from eBay to Depop. Twig then allows users to sell their items to the company directly and to receive instant payment.
Twig focuses on tackling the environmental crisis in everything it does. In line with this vision, the company has achieved B Corporation status, and has investigated adding features such as carbon offsetting and tree planting within its app. It has secured good levels of funding to support expansion into the US and targeted EU countries.
Steph
Company Specialist at Welcome to the Jungle
