A pair of Durham University graduates have successfully raised 拢1m to bring the 海角视频's first green debit card to market.
Peter Kirby and William Smith have raised the money to launch Tred, a green debit card that helps the user track their carbon footprint and reduce their impact on the environment.
The business also aims to help consumers offset their carbon footprint by planting trees, while the business' profits will be used to fund reforestation projects.
The duo funded their venture through a crowdfunding campaign launched on the Crowdcube platform.
Tred had originally aimed to raise just 拢400,000 through the site but more than doubled its target amount after receiving support from 1,032 investors. In return, Tred sold a 16.67% of the company's equity.
Tred has also gained the backing of one of the co-founders of Nutmeg, an investment app that also gained a lot of support through Crowdcube.
Will and Peter originally met at Durham University and worked with the Business School and Marek Tokarski and the Careers and Enterprise team to hone their business acumen.
Commenting on their time at Durham University, Will said: 鈥淲e鈥檒l always have a soft spot for Durham. Pete and I met nearly a decade ago during freshers week and we鈥檝e been working together ever since. In our early days, we used Durham鈥檚 Business School to access grants and coaching to bring our idea to life.
鈥淎 lot of the people we鈥檙e now working with could be traced back to Marek and the team. If you鈥檝e got an idea and are a student or grad, get in touch.鈥
Currently Tred is only available to a select number of people who signed up to the company's alpha app in late 2020. However, the business has seen its waiting list grow by 122% in 2021, with around 2,200 people waiting to use the card.
After raising funding, Tred now intends to launch its card to the wider public. It will then roll out a number of new features such as a personalised carbon coach and a green investment platform.
