UK’s first “green debit card” celebrates exceeding crowdfunding target in 10 minutes

The UK’s first “green debit card’’, Yorkshire based Tred, has joined the “sell-out hall of fame”, after reaching its crowdfunding goal just 10 minutes after launching to the public.

Hoping to make consumers more sustainably savvy with their spending, Tred, opened to investors yesterday, with sales targets of £600k being exceeded in a matter of minutes.

Tred notes that 80 per cent of 16-25-year-olds are choosing to invest in their futures, with 57 per cent stashing away up to £200 per month in investments. It is suggested the value of investments made by young people will amount to £9.4bn over the next financial year according to the Royal Mint.

Government research also shows that over 80 per cent of young people are “eager to take action to help the environment”. Through using Tred, with its carbon offsetting features, and money tracking, it aims to play to both sides of young people’s agendas.

Tred is an app for the money conscious and is hoping to change the way people think about the impact of their spending. Tred allows customers to see an in-depth view of the carbon emissions created every time they spend, tracking their carbon footprint and helping to understand ways they can reduce it, whilst also planting trees on the customer’s behalf.

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

As well as the eco-friendly benefits, Tred, and its recycled card, offers all the usual features customers can expect from a modern-day money app, such as spending insights, instant notifications and card freezing.

Tred launched the Mastercard green debit card in the UK, enabled by global payments platform Nium’s card issuing service. Tred’s app is now live in Beta for iPhone users, with its Android app coming soon, and 30,000 people have already joined the waiting list to receive access.

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