Ethex secures backing for ethical projects
Social impact business Bayesian Shift has pledged to invest £75,000 into projects on ethical lending platform Ethex.
Bayesian Shift was launched by financial trader Mark Waddoups and machine learning expert Tennessee Hickling in 2019 to divert profits from trading on the financial markets to social and environmental causes.
The company has so far directly pledged £325,000 to socially impactful organisations, with £250,000 made in donations to charities and £75,000 in pledged low-cost financing for impactful initiatives.
Innovative Finance ISA provider (IFISA) Ethex said Bayesian Shift’s foundersgot in touch to say they were interested in investing in some of the impactful projects on our platform.
The first £25,000 has already been made into the Solar for Schools bond offer, which is live on the platform.
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This investment will help Solar for Schools to install solar panels on more UK schools, generating clean energy, cutting bills and educating students on our clean energy transition.
Future investments made by Bayesian Shift into projects on the Ethex platform will be set up as match funding, so every pound our investors put in will be matched up to £25,000.
“We are impressed by the strong social and environmental motivation Bayesian Shift have demonstrated so far and grateful for their pledge to invest in projects listed on the Ethex platform,” Lisa Ashford, chief executive of Ethex, said.
“Ethex is on a mission to help more people use their money to create a positive impact and, their first investment in the Solar for Schools bond offer will help leverage more investment from the crowd to reach their target so they can deploy solar on up to 25 schools across the UK, reduce carbon emissions and scale up their school education programme.’’
Hickling said the direct investment opportunities into impactful organisations that Ethex offers “makes them the ideal partner” to advance the brand’s goals.
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