Renewable/green investment crowdfunding platform Trine has been approved under new European Union rules to sell securities across all member states.
ECSPR, or European Crowdfunding Service Provider Regulation, is now in place, enabling platforms to sell securities online across the EU. To be able to provide this service, a platform must be approved by the relevant authority in an EU member state.
Trine has been approved by the Swedish Financial Services Authority.
Currently, Trine has several offerings that are providing loans to developing countries that provide solar electricity.
Tristan Morgan, Head of Compliance & Finance at Trine, said the new EU regulations are a significant step forward for the industry as they strengthen investor protection and enhance transparency.
“The licence will enable us to go further in supporting solar energy companies in emerging markets to raise capital and scale up their operations where renewables are needed the most,” says So far, investments through Trine have provided three million people with access to renewable energy, simultaneously avoiding one million tons of carbon dioxide emissions, while investors benefit from 4 to up to 8.5% interest.”
Trine joins dozens of platforms that have been approved to operate across Europe. Issuers may raise up to €5 million in a given year.