Carbon Tracking Debit Card Startup, Tred, Exceeds Crowdfunding Goal in 10 Minutes

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Finextra | May 26, 2022

Tred 1 - Carbon Tracking Debit Card Startup, Tred, Exceeds Crowdfunding Goal in 10 Minutes

Tred, a UK startup building a carbon tracking debit card and app, has bust through its initial £600,000 crowdfunding target within ten minutes of going live on Crowdcube.

See: Open Banking Surpasses 5 million User Milestone in the UK

This latest round follows a successful initial crowdfunding campaign in 2021 that far exceeded its £400,000 target, securing over £1m from more than 1,000 investors during the course of the campaign.

Tred is offering a green debit card made from recycled plastic that calculates the carbon costs of a user's spending. At the end of each month, Tred users will be encouraged to pay a personalised subscription to offset any carbon their spending has emitted via a certified-tree planting scheme in Scotland.

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. The same display can also be activated for spending on credit and debit cards issues by banking providers.

Read: How blockchain and cryptocurrencies can help build a greener future

Will Smith, co-founder of Tred, says:

Our mission here at Tred is to become the go-to green fintech offering. Managing your finances as well as considering your carbon emissions may seem overwhelming but it doesn’t have to be. Our platform lets people effortlessly manage their money, and its impact, all in one place.

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NCFA Jan 2018 resize - Carbon Tracking Debit Card Startup, Tred, Exceeds Crowdfunding Goal in 10 Minutes The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org