An interview with Whitni Thomas, Head of Corporate Finance at Triodos Bank UK.

Tell us more about Triodos Bank UK

Triodos Bank was founded in The Netherlands in 1980 with a mission to make money work for positive change and is now a global pioneer of sustainable banking. We have been operating in the UK for almost 30 years, working with organisations we believe have the potential to change society – and make the world a better place for future generations.

In 2018, we became the first bank in the UK to launch its own crowdfunding platform (www.triodoscrowdfunding.co.uk). This was built on a track record of raising finance for social and environmental organisations and over 15 years of experience connecting investors directly with businesses, charities and community projects. 

We’ve helped community energy groups raise capital for solar and wind projects, helped to fund the refurbishment of special needs schools and nursery expansions for several charities, and enabled the growth plans of independent sustainable brands.

We know there’s an appetite among investors to invest their money to support the growth of organisations making a positive difference.

We’ve been crowdfunding since before it became a well-known term. In 2003, we successfully raised the first charity bond in the UK for Golden Lane Housing, one of the UK’s leading supported housing landlords for people with a learning disability.  In 2004, we supported Cafedirect with a ground-breaking £5 million crowdfunding initiative. Today, I lead our Corporate Finance team offering capital raising from £250k to £10m and advisory services.  

Triodos has been B Corp certified since 2015 and most recently recertified with a score of 131, putting it in the top 5% of B Corps in the UK.

 

Why did Triodos Bank decide to join the UKCFA?

The UKCFA’s aim to take the crowdfunding industry forward as a force for positive change in the UK’s financial sector very much resonates with our own ambitions as a bank. Working together to help create a regulatory environment that supports and protects the integrity of crowdfunding, while helping to raise awareness of the industry, will help drive confidence in crowdfunding and, ultimately, help more organisations to access the capital they need to grow.

We were pleased to be able to work with UKCFA in responding to the 2021 paper from the FCA regarding how to address the harm from what it designates as high-risk investments. We shared the FCA’s aim of ensuring that retail investors are accessing investment products that are appropriate and meet their needs. This resonates with our values of transparency and excellence. We also believe in sustainability and want to give individuals the opportunity to invest directly in organisations that create the kind of world they want to live in. Our investment products, including our crowdfunding platform, are intrinsic to meeting this objective.

We are proud to be able to offer direct investment opportunities available to those investors who are comfortable making their own investment decisions. With a typical investment minimum of £50, this means making a direct impact with an investment needn’t be the preserve of the wealthy.

 

Tell us your current take on the industry, what works well and what present or future issues might affect the industry? 

Crowdfunding enables companies to access the capital they need to grow and enables investors to invest directly in companies. These direct investment options are important in helping consumers appreciate the impact of investment decisions. It isn’t always easy to understand what our money is doing when we invest through funds, but with direct investments – investing in the creation of more renewable energy, for instance, or funding the refurbishment of a special needs school – that impact is much clearer.

At Triodos, we only work with organisations who have positive impact at their heart and this includes charities and social enterprises. Many charity and social enterprise leaders will be familiar with the concept of gift based or donation crowdfunding but not know that investment crowdfunding can be a useful way for them to borrow money without the need for the assets they would usually have to offer a lender as security. Crowdfunding can also enable organisations to engage with a new audience of potential supporters by raising awareness with potential investors.

Driving greater awareness of crowdfunding and what it has to offer could help SMEs, charities and social enterprises to consider this as an option to help them achieve their goals and ambitions.

If you would like to learn more about Triodos Bank UK or speak with Whitni directly, please visit: Triodos Bank UK