Tred, a UK startup building a carbon tracking debit card and app, has bust through its initial £400,000 crowdfunding target within hours of going live on Crowdcube.
Tred is currently seeking to broaden its shareholder base and expects to pass £1 million in investment before the end of the week.
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.
Cofounder Peter Kirby says: “We want to bring together currently fragmented ‘green money’ options to make it easier for people to harness the amazing power their money has to help tackle the climate emergency.
“The Tred debit card and app provide the perfect starting point - making it easier than ever before for people to track, reduce and offset their own personal impact on the environment. We will follow this soon, with new features like green investment, on the way to delivering a complete green money solution."