Fintech continues to rediscover its purpose-driven roots by focusing on creating innovative solutions for people who want to live greener lives. Recently, this has been met with the arrival of ‘Tred’, the unique green debit card and carbon track, reduce and offset app.
Tred is currently seeking to broaden its shareholder base through an EIS investment round. The round, which is now live on Crowdcube, is currently at 131% after seeing a tsunami of investors reach its £400,000 target just 2 hours after it went live.
Will Smith, cofounder of Tred said, “We are very excited to see just how keen investors big and small are to become Tred shareholders and support us on our mission to help people fight climate change through their spending. We hit our target in just 90 minutes, and on day 1 of going public we’ve had nearly half a million pounds invested by more than 275 people, and the round has only just started. It’s fabulous to see so many people who want to tackle climate change putting their money where their beliefs are and voting for Tred as a great way to do it.”
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Like others in Fintech, Tred cofounders Will Smith and Peter Kirby know the UK is sitting on the brink of a green revolution. 82% of people in the UK want to live more sustainable lives even if they are not sure how to get started. Even Covid has played a part, leaving people with fewer distractions and encouraging us to reflect on our lives, priorities and behaviour.
With more than 97 million debit cards in the UK, making 50 million transactions a day, spending an average of £36 a time, harnessing the humble debit card as a green weapon makes huge sense, and not just because the average transaction emits 8.64kg of CO2.
So the centrepiece of the Tred offer is a genuinely green debit card, offering a uniquely comprehensive package of green features, beyond any card or app offered elsewhere:
- The Tred card is made from recycled plastic waste – and it isn’t neon coral, trendy turquoise, or even glitzy gold – it’s green!
- All spending with the Tred card will contribute to planting trees in Britain to help achieve Net Zero
- Each transaction on the card is tracked for its carbon footprint, which is shown, in real-time, on the Tred app, along with personalised tips on alternatives and how to reduce the impact of that spending in future
- Finally, Tred cardholders can even choose to offset every transaction automatically, the cost of which will fall as they reduce their footprint over time
People who take up the chance to become Tred shareholders via the Crowdcube raise will be investing alongside notable angel investors including Will Todd, cofounder of Nutmeg, and Chris Mairs CBE.