Triodos Bank UK to Hand Crowdfunding Operations to Not-for-Profit Platform Ethex
Triodos Bank UK to Hand Crowdfunding Operations to Not-for-Profit Platform Ethex #
Triodos Bank UK will transfer its crowdfunding activity to Ethex, an ethically focused, not-for-profit investment platform, with new deals to be hosted on the Ethex site rather than the bank’s own crowdfunding page.
The bank’s crowdfunding site now carries a notice stating that Triodos Bank UK plans to unite with Ethex “to power the next wave of impactful, people-powered finance.” The transition covers the bank’s crowdfunding and Innovative Finance ISA (IFISA) products. Existing investors will have ongoing payments, including interest and capital repayments, directed to their Ethex wallets. The bank has said investments held through the Triodos Impact Fund will remain with Triodos and are not part of the transfer.
Ethex is constituted as a company limited by guarantee and is authorised to arrange investment deals under an Enterprise Scheme exemption. The platform currently hosts investment opportunities in community renewable energy projects, organisations working on financial exclusion, and affordable housing providers. Triodos-originated deals will be listed alongside these.
Triodos launched its own crowdfunding platform in 2018, the first UK bank to do so, offering bonds and equity in social enterprises, charities, and environmentally focused businesses. Ethex was founded in 2011 and describes itself as the leading not-for-profit marketplace for positive investment in the UK.
Under the arrangement, Triodos will continue to originate and underwrite impact investments while Ethex handles the platform and distribution. Investors will find deals from both organisations in a single location, subject to the due diligence standards each applies to its pipeline.
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