Tred

Tred, trading name of Leeds-based Tred Earth Limited, offered a debit card and app that tracked the carbon footprint of spending and funded tree planting, pitching itself as a greener alternative to the digital banks. Co-founded by Will Smith and Peter Kirby, it raised more than £500,000 through a 2021 Crowdcube campaign and later took investment from Ecotricity; its card was issued through Nium. Accounts to December 2023 showed 16 staff and a £1.6M loss. In January 2025 the founders announced the company would close after four years, blaming the Payment Systems Regulator's new mandatory reimbursement rules for authorised push payment fraud, which they said smaller providers could not sustain. Members resolved to wind up the company on 27 February 2025 and Craig Johns and Jason Elliott of Cowgills were appointed joint liquidators in a creditors' voluntary liquidation.

Company placed into creditors' voluntary liquidation on 27 February 2025 with Cowgills as liquidators; accounts for 2023 were overdue at the time. No buyer for the business or brand was reported.

Regulatory changes that impose fixed per-customer liabilities, such as mandatory APP fraud reimbursement, fall hardest on small payment providers without the scale to absorb them.