Triodos Bank has raised over .
Launched three months ago, the platform enables people to invest directly in equity or bonds issued by established charities or businesses, which have been extensively screened by the bank for the viability of their business model and the credibility of the management team.
The most recent offer that was successfully completed was a £1.8m bond for Mendip Renewables.
The funds will be used to take a 5MW operational solar farm in Somerset into community ownership.
Investors who used the crowdfunding platform will earn 5% interest per year – increasing in line with the annual retail price index – repayable over 17 years.
The project is expected to contribute an estimated £1.4m of profit to a community benefit scheme.
“Since launching the crowdfunding platform, we have seen significant interest among investors looking to support pioneering, sustainable organisations and businesses,” said Dan Hird, head of corporate finance at Triodos Bank (pictured above).
“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.”
Triodos Bank has a strong track record in raising finance for social and environmental organisations, having raised more than £140m to fund over 50 impact projects in the last 15 years.
Meg Blumsom invested in the Mendip Renewables bond
Meg Blumsom, a retired probation officer, who invested in the Mendip Renewables bond (pictured above), added: “I don't want to invest my money in things that do harm, which is why I chose to invest in Mendip Renewables through Triodos crowdfunding.
“I liked the fact that this bond helps to support the local community.
“We get regular updates and already feel like we're part of the project.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Coutts partners with Mortgage Brain to offer products to intermediaries
Private bank Coutts has partnered with Mortgage Brain to make its products available – via the latter’s platforms – to UK intermediaries...
Charter Savings Bank launches two new accounts
Charter Savings Bank has introduced two new accounts: a 95-day notice account and a three-year fixed rate cash Isa...
FP Show reveals its largest and most diverse conference programme
The Finance Professional Show has confirmed its largest conference programme to date, hosting a selection of varied sessions throughout the event next month...
47% of SMEs prepared to move away from traditional banks
Almost half of SMEs in the UK (47%) would move to a challenger/digital bank or non-banking brand if they decided to switch, according to the latest research by Unisys Corporation...
Monese launches business account
Monese has launched a business account in the UK which will be bundled with its personal banking account...
Metro Bank provides £14m facility to support London office acquisition
Metro Bank has provided Kingsway Properties London with a £14m investment facility to support the acquisition of a five-storey office building in central London...
Tandem introduces new credit card blocking feature
Tandem has created a new card-blocking feature for its banking app which allows customers to react instantly to a misplaced card...
Trinity College Dublin secures €100m EIB facility
The European Investment Bank (EIB) has provided a €100m long-term loan to Trinity College Dublin for four capital developments across the campus...
Arbuthnot Banking Group completes testing phase of direct deposits business
Arbuthnot Banking Group has announced that the internal pilot offering of its direct deposits business will commence soon...
Anna to launch business current account for creative UK SMEs
Hybrid digital assistant Anna has announced plans to launch a UK business current account aimed exclusively at supporting SMEs in the creative industries...
Masthaven reaches £500m in assets
Masthaven has announced that it has generated £500m in assets driven by the growth in its diversified lending across short-term and long-term property finance...