THE FINAL loan on closed renewables peer-to-peer platform Trillion Fund has been paid off as the lender gears up for a sale of its technology and infrastructure.
The platform’s technology was put up for sale in March 2017 at the same time as its loanbook was being run down.
Investors who backed the E5 Energy wind turbine installation project three years ago on Trillion have now received both the capital and expected interest on their loans back early.
The project offered investors who put in more than £50 a fixed interest rate of seven per cent a year for three years.
It was backed by 407 investors and raised £1.75m.
“I’m delighted that all investors who chose to invest in loans on the Trillion Fund platform have received their money back, with interest, in full,” Theresa Burton, chief executive of Trillion Fund, said.
“No one who invested via the platform lost any of their capital, despite the significant blow to the UK renewable energy sector that occurred in Autumn 2015.”
Burton added that Trillion Fund was in “advanced discussions” with a buyer and hope to announce something to their shareholders soon about a sale of the underlying technology and infrastructure.
The company stopped offering P2P loans for projects in 2015 after the government cut renewable energy subsidies.
It launched Your Brand Crowdfunding in 2016 to allow companies to run fundraising campaigns on their own website, but Burton said there had not been enough take-up.