A veterinary social enterprise is seeking to raise £2 million of investment crowdfunding to help grow its services in England and Wales. Animal Trust, which is set up as a community interest company, has launched its new bond offer on the Triodos Crowdfunding platform.
Animal Trust’s mission is to make good veterinary treatment more affordable and accessible for pet owners earning the Real Living Wage. In line with this, the social enterprise seeks to open sites in areas where the available veterinary services are too expensive for local residents. It targets locations that are either within, or accessible to, lower earning individuals and families and currently operates across Cheshire, North Wales, Merseyside, Greater Manchester, Lancashire, Shropshire and Yorkshire.
Animal Trust’s priority is the health and care of the animals that they see. As a community interest company, it reinvests the majority of its profits back into the business. This allows Animal Trust to provide more comprehensive veterinary care for pets, while keeping the costs affordable. It provides free consultations for sick and injured animals brought to the surgeries, to ensure that pets are seen as soon as they become ill.
A total of 3.2 million households in the UK have acquired a pet since the start of the pandemic and it’s estimated the country now has 17 million pet-owning homes . Faced with this increasing demand, Animal Trust is keen to grow its surgeries to make its services accessible to more pet owners on lower incomes. Animal Trust is seeking to raise £2 million through a crowdfunded bond to support the fit-out of two recently acquired surgeries and to support further growth.
Initially set up as a private limited company, the founder and chief executive Owen Monie, restructured the business into a community interest company (CIC) in 2020. For Animal Trust, sustainability is about making a difference to communities and patients, while minimising environmental impact and being financially sustainable over time. The CIC structure ensures profits are re-invested back into the social objectives of the business, rather than being used solely to maximise financial return for the founder.
Owen Monie, chief executive of Animal Trust, commented: “We believe that pet ownership isn’t just for the wealthy and every animal deserves access to experienced and professional veterinary care as soon as they become ill. We aim for someone who earns the Real Living Wage to be able to afford care for their pet at Animal Trust. We run our business for our customers and our staff and do it as sustainably as we can. In the near future, we also hope to become the first B Corps certified veterinary business in the UK.”
Jeremy Pannell, corporate finance manager at Triodos Bank UK, added: “The cost of looking after pets can be prohibitive for families on lower incomes, which is why we are delighted to be supporting Animal Trust to raise finance to grow its services.The organisation really does walk the talk by running the social enterprise sustainably and putting stakeholders front and centre.
“In addition to making its high-quality services affordable to those on lower incomes, Animal Trust has also been an enthusiastic backer of the Kickstart scheme helping 16- to 24-year-olds gain work experience and move into apprenticeships. We are really pleased to be helping them raise the finance they need to grow.”
Investment is available from £50 and the £2 million, five-year bond will pay 6% per year interest. It is also available within the tax-efficient Innovative Finance ISA (IFISA) wrapper. As with all investments, interest payments and return of capital are not guaranteed and like all ISAs, the IFISA is subject to eligibility criteria. More information can be found on www.triodoscrowdfunding.co.uk.
Investments offered on the Triodos crowdfunding platform are not readily realisable, which means that they may be difficult to sell, and you may not get back the full amount invested. Investments are not covered by the Financial Services Compensation Scheme (FSCS) and your capital is at risk and returns are not guaranteed. Repayment of capital and interest will be dependent on the success of the organisation's business model and past performance isn’t a reliable indicator of future performance. You should always read the offer document in full before deciding whether to invest as it will cover risks specific to an individual investment. You can read more about the general risks associated with making these types of investments here. If you are unsure if any of these investments are right for you, you should contact an Independent Financial Adviser.
Notes to editors
For further information and photos please contact:
Ellie James, Triodos Bank
- 0117 311 0241
- [email protected]
Animal Trust Vets CIC published an offer document dated December 2021. Applications can only be made on the basis of, and subject to, the terms and conditions of the information contained in the offer document which includes the terms and conditions of the Triodos Crowdfunding website. Animal Trust Vets CIC is a community interest company limited by shares, incorporated in England and Wales (registered number 07938025) with registered office at Animal Trust Administration Centre, Cedab Road, Ellesmere Port, England CH65 4FE.
About Animal Trust
Animal Trust (the trading name of Animal Trust Vets CIC) is a veterinary social enterprise operating across Cheshire, North Wales, Merseyside, Greater Manchester, Lancashire, Shropshire and Yorkshire. See animaltrust.org.uk.
About Triodos Bank
Founded in 1980, Triodos Bank has become a frontrunner in sustainable banking globally. As an independent bank that promotes responsible and transparent banking, it does not see any conflict between a focus on people and the planet and a good financial return. Instead, it believes that they reinforce each other in the long-term.
Triodos Bank has banking activities in the Netherlands, Belgium, the UK, Spain and Germany as well as Investment Management activities based in the Netherlands but active globally. Triodos Bank co-founded the Global Alliance for Banking on Values (GABV), a network of 63 sustainable banks. Together these banks want to grow sustainable banking and its impact on the real economy substantially.
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This financial promotion has been issued and approved by Triodos Bank UK Limited for the purposes of section 21 of the Financial Services and Markets Act 2000. Triodos Bank UK Ltd. Registered Office: Deanery Road, Bristol, BS1 5AS. Registered in England and Wales with registered number 11379025. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 817008. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us on request.