Algbra will collaborate with Shoal, the sustainable finance platform of SC Ventures, as per the terms of the agreement.

Established in 2020, British citizens can track their carbon footprint and make charitable donations with the money management app and debit card offered by FCA-authorised Algbra.

Moreover, the startup provides businesses worldwide with a B2B Fintech-as-a-Service (or "FaaS") offering through its Algbra Labs subsidiary, which includes its core banking platform and other full-stack proprietary technology.

Algbra and Shoal, Standard Chartered's own sustainable finance platform that enables retail customers to assist sustainable development, are said to have good synergy.

While Shoal will use Algbra's technological prowess to distribute its goods to retail clients in the UK, Algbra will integrate Shoal into its ESG-focused B2B solutions on a worldwide scale.

Zeiad Idris, CEO of Algbra, "What is most exciting about this is the deep purpose-alignment of our companies to do good, and our commitment to go beyond the UK to serve communities in Asia, Africa and the Middle East."