Triodos Bank, a global leader in sustainable banking, has raised over £7 million for five organisations delivering positive social and environmental impact on its crowdfunding platform in the three months since it launched.
Dan Hird, Head of Corporate Finance at Triodos Bank, said:
Since launching the crowdfunding platform, we have seen significant interest among investors looking to support pioneering, sustainable organisations and businesses. The range of projects that have already been or are near to being funded is evidence of the potential of crowdfunding to prompt positive social, environmental and cultural change. We are proud to be at the forefront of this movement and aim to support the funding of many more progressive projects on the Triodos Crowdfunding site.
The latest offer to be successfully completed was a £1.8m bond for Mendip Renewables. The funds will take a 5MW operational solar farm in Somerset into community ownership. Investors will earn 5% interest per year, increasing in line with the annual retail price index, repayable over 17 years. An estimated £1.4 million of profit will be contributed to a community benefit scheme over the life of the project.
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