UK fintech Tred: A green alternative to Monzo raises more than half a million on CrowdCube
With over 97 million debit cards in the UK, making 50 million transactions a day, spending an average of £36 a time, harnessing a humble debit card as a green weapon makes a huge sense, especially when an average transaction emits 8.64kg of CO2.
This is where the green fintech, Tred comes in. The Leeds-based company offers green debit cards, made from recycled ocean plastic. Further, they offer a uniquely comprehensive package of green features and also will plant trees on your behalf.
Now the sustainable has announced its crowdfunding open to the public and has already secured more than £500K on Crowdcube. Basically, Tred is currently seeking to broaden its shareholder base while raising up to £1m via an EIS investment round.
Tred is seeking this investment to grow their green banking solutions, which allows their customers to track, trace and reduce the carbon footprint. It provides green debits cards made of recycled plastic and an app that calculates the carbon cost based on customer’s spending. Tred cofounders Will Smith and Peter Kirby know that the UK is sitting on the brink of a green revolution.
Co-founder Will Smith said, “Tred’s mission is to help everyone live a greener life. Most of us are trying to buy more sustainable products, re-useable coffee cups, less red-meat etc, but people now want to buy products in a greener way. That’s why we’re launching a green debit card. Simply buy things as you normally would, but instead of funding fossil fuels, we’ll plant trees as you spend and tell you the impact of every purchase. We’ll then start to learn from your habits and give you tips on how to improve. Living sustainably can be difficult, we want to make it effortless.”
Cofounder Peter Kirby said, “Tred’s mission is to become THE green fintech, providing a platform that lets people effortlessly manage their money, and its impact, all in one place. We want to bring together currently fragmented ‘green money’ options to make it easier for people to harness the amazing power their money has to help tackle the climate emergency.”
“The Tred debit card and app provide the perfect starting point—making it easier than ever before for people to track, reduce and offset their own personal impact on the environment. We will follow this soon, with new features like green investment, on the way to delivering a complete green money solution.”
“The need for climate action to be something we all do, and together, made us think Tred’s future should be the same, so we are democratising its ownership through crowdfunding. We hope investors big and small will join the purpose-driven mission we’re on–one that’s crucial to all our futures–by becoming a Tred shareholder at this pivotal early stage via the investment round now open on Crowdcube.”
While the card launches early next year – you can join the waiting list online at tred.earth.