Tred, a burgeoning startup from the UK, has rapidly surpassed its initial crowdfunding goal of £400,000 on Crowdcube, achieving this milestone within hours of launching.
The company is currently working to expand its shareholder base and anticipates reaching £1 million in investments before the week concludes.
Tred offers an innovative debit card crafted from recycled plastic, which measures the carbon impact of its users’ spending. At the end of each month, users receive a personalized suggestion for a subscription to offset the carbon emissions generated by their purchases, facilitated through a certified tree-planting initiative in Scotland.
Each transaction made with the card is monitored for its carbon footprint, displayed in real time on the Tred app. The app also provides tailored tips for reducing future environmental impact and can be used to track spending with credit and debit cards from other banking institutions.
Cofounder Peter Kirby emphasizes, “Our goal is to unify the currently fragmented options for ‘green money,’ making it easier for individuals to harness the potential of their finances to combat climate change.”
He adds, “The Tred debit card and app are the ideal starting points—empowering people to track, reduce, and offset their environmental impact. We plan to enhance our offerings with features like green investment, ultimately delivering a comprehensive solution for sustainable finance.”