Future, which uses a rewards program to nudge consumers toward sustainable choices, has said it raised $6.5 million to fund its October acquisition of Boston-based Fan Rewards, an AI-driven rewards platform for fans of artists and influencers.
The Silver Spring, Md.-based startup was founded in 2021 by development workers Jean-Louis Warnholz and Kamal Bhattacharya, both of whom got a first-hand view of climate change’s deleterious effects when working in Africa. The duo believes consumer choices can decisively tilt the battle to preserve our planet, and even more so with the help of Fan Rewards’ community and AI.
Watch Video, Go Green
Fan Rewards, co-founded by Kendall Tucker and Mike Garon, is an AI-driven video platform that rewards users for watching their favorite videos, leveraging data to personalize suggestions. “Our platform utilizes computer vision for object detection and then a proprietary algorithm to identify products and surface links so that users can shop while they watch,” Tucker, a Columbia University graduate, said on her LinkedIn profile. Tucker is now Future’s head of product.
“A big piece of what we are building now is just creating an outrageously rewarding experience for our members,” Warnholz told Axios. “The work Mike and Kendall had done at Fan Rewards was a perfect fit because they’ve identified novel and interesting ways to reward fans of digital creators.”
“Climate-positive choices, from taking the subway, to shopping refurbished, to saving energy, deserve the highest tier of rewards. That’s exactly what Future is offering,” said Garon, Future’s head of engineering. “There are a lot of misconceptions about sustainable living, and we love seeing our members discover alternatives that are good for the planet and good for their wallet.”
Persuasive Cashbacks
A key vehicle for Future is the FutureCard Visa Card, a debit card issued by Piermont Bank. Future offers cashback rewards to consumers for low-carbon purchases — 5% on green purchases, 10% on renewable energy purchases and 1% on other products. Environment-friendly purchases not only include electric cars, vehicle charging and public transportation, but also second-hand clothes, plant-based meat and nondairy milk.
Commercial Real Estate
MacKenzie Companies
Advertising / Media / Communications / Public Relations
Nevins & Associates
Financial Services / Investment Firms
Chesapeake Corporate Advisors
Commercial Real Estate
Monday Properties
Venture Capital
Blue Delta Capital Partners
Internet / Technology
Foxtrot Media
Future has also developed a FutureScore app that calculates carbon footprint of consumers, allowing the really conscious among them to modify their lifestyles to reduce impact on environment.
The German-born Warnholz previously worked for the Soros fund, as well as the World Bank and S&P Global Ratings. In Africa, he served BlackIvy, a U.S. firm that builds infrastructure in Ghana, Kenya and Tanzania. Bhattacharya, a native Indian, worked for Kenyan telecom carrier Safaricom, famous for its Mpesa digital currency. He has also taught at MIT.
In the fall of 2022, Boston-based Accomplice led Future’s $5.3 million seed round, with participation from the Massachusetts unit of Techstars Ventures, Canada’s Active Impact Investments, the Netherlands’ Urban Impact Ventures, London’s Climate Capital and American activist-writer Baratunde Thurston.
