Brewdog's James Watt shortlists Leeds-based neobank for investment

Leeds-based green neobank Tred has been shortlisted by Brewdog CEO and co-founder James Watt for his newly-launched investment program, The Next Unicorn.

The program in collaboration with crowdfunding platform Crowdcube was set up by Watt to create a next generation of unicorns, after his company, Brewdog, reached the landmark £1bn valuation in 2017. Tred has been hand-picked, alongside 19 other startups, from a pool of over 750 applicants.

Tred is vying for a share of Watt’s £5m investment pot, which will be distributed between 3 eventual winners. Shortlisted businesses will be invited to pitch to a panel in London this month, before a final pitch event in Las Vegas later in the summer.

The investment would be a further boost for the rapidly-growing green fintech, which is currently going through a funding round following two successful crowdfunding campaigns in 2021 and 2022.

Co-founder Will Smith says: “We’re incredibly proud to be one of only 20 companies shortlisted by James for The Next Unicorn program. As a challenger brand in a centuries-old industry, we’ve always had great admiration for the innovative, planet-focused thinking that Brewdog have brought to the beer category.

“Tred’s rapid growth to date is proof that there’s high demand for a greener alternative to traditional high-street banks and their fossil fuel investing; now the challenge is to demonstrate our future growth potential to the judging panel.”

Co-founder Peter Kirby says: “‘Tred has been based in Leeds since day one a defiant move for a company in a fintech sector that’s overwhelmingly London-centric. To be recognised as a business with unicorn potential is proof that the business landscape is changing: great ideas and great talent can flourish outside of London, and we’re proud to be flying the flag for green growth in the north.”

By Mark Adair – Correspondent, Bdaily