TrillionFund, an investment crowdfunding platform that targets the renewable energy sector, is raising capital on another well known crowdfunding portal – Seedrs. Trillion Fund focuses on debt based offers but has also listed equity campaigns as well. The site has funded multiple successful wind, solar and alternative energy projects around the UK and today has a single listing for a project in India. TrillionFund gets its name from the estimated amount of funding needed worldwide to prevent climate change from reaching damaging levels.
The well known platform, a leader in the space, is seeking to raise at least £500,000 for 7.7% equity in the company. The pre-money valuation stands at just under £6 million. As of today £23,770 has been invested from 78 investors representing just 4.8% of the objective.
Founded in by Dr. Michael Stein and Phillip Riches the site became operational in 2012 and became an “appointed representative” of Abundance Generation in 2013, thus bringing the site under FCA regulation. The site claims Vivienne Westwood as a majority stakeholder alongside a significant stake from Albion London, a design and marketing firm. Westwood, a well known fashion icon, is also recognized for her advocacy of environmental and other social issues.
Earlier in 2014, Trillion Fund and Buzzbnk announced a merger of platforms but ostensibly the pair continue to operate as independent platforms. The merger claimed to generate a more powerful combination;
“With 14,000 users, the combined entity will become the biggest social crowdfunding platform in the UK, enabling social and sustainable projects to access potential funding of up to £500 million and targeting half a million crowdfunders by the end of 2017”.
Trillion Fund revealed this past September its platform had raised £2 million from investors to grow operations but expected that number to climb to £5 million by the end of the year. The funding round on Seedrs is reported to be part of this new £3 million funding goal with the remainder expected to come from institutional investors.
Trillion Fund is managed by Julia Groves who is CEO of the company. Julia is quite active in the crowdfunding industry as she currently is also the Chair of the UK Crowdfunding Association.
Trillion Fund will not be the first crowdfunding platform to raise capital on a second crowdfunding platform – nor will it be the last. There have also been multiple self-crowdfunding campaigns such as Seedrs completed itself at the end of 2013. The platform easily raised over £2 million.
According to BusinessGreen, the additional funding will be used to prepare for ISA inclusion, grow staff and expand operations. The company hopes to be crowdfunding £500 million per year by 2017.
Julia was quoted on the new funding round saying;
“Trillion’s mission is to give as many people as possible access to investment opportunities that support the triple bottom line of people, planet and profit,” she said in a statement. “We have worked hard to keep the ‘crowd’ in crowdfunding, and launching our own raise is just the next step of that campaign.”
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