Green fintech Tred blames regulations as it reveals plans to wind down

Green fintech Tred is to be wound down after five years, blaming the impact of regulations on disruptors in the industry.
The Leeds-based business was set up by Will Smith and Peter Kirby with the ambition of being “a force for good by making money greener”.
But it said that recent changes to financial regulations around Authorised Push Payment Fraud (APPF) have “significantly impacted smaller disruptors like Tred, which we simply aren’t equipped to sustain”.
Co-founder Peter Kirby said: “When we started Tred, we had a simple mission: to make money work for the planet, not against it. From launching fossil-fuel-free accounts to raising awareness of the hidden carbon emissions of most high-street banks, we’ve been part of some amazing conversations and moments of change.
“But we wouldn’t change the journey for the world! This is the end of Tred, but it’s far from the end of the fight for sustainable finance. The mission continues, and I know that the seeds we’ve planted will grow into something even greater.”
Tred was overdue filing its 2023 accounts, but had received investment from Dale Vince’s green energy firm Ecotricity last September.