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TERP closed a 1.5 MNOK crowdfunding on the FundingPartner investor platform within seconds yesterday. Investors who attempted to register an investment 10 seconds after the launching at 2 pm were too late.

The financing gives TERP access to cash from the Skattefunn receivables. Skattefunn transfers funds in the fourth quarter each year, based on costs that occurred the previous year. Thus, the money is tied up for up to 22 months. TERP has taken financial measures to get early access to these funds ever since the company received approval for the first Skattefunn project in 2017.

FundingPartner is a crowdfunding platform where people can invest in loans. A total of 124 investors participate in the 1,5 MNOK loan to TERP. Click here for more information about the funding.