Charitable bond issuer Allia has launched the first of its new online pooled fund bonds.

The firm recently rebranded from Citylife, announcing a series of new bonds as part of its relaunch. Uniquely, the new bonds allow investors to subscribe online and choose which charities to support with a minimum investment of just £100, leaving the bonds open to the majority of the public. 

"There’s only so much money in grants and donations to go round. In fact, with funding cuts and shrinking budgets everywhere, raising vital funds can be even harder," said Allia CEO Tim Jones. "So if we want to achieve more, we need to find new income streams and tap into a whole new pot of money – and allow interested individuals to invest small sums, rather than relying on corporate giving.

"Allia’s unique charitable bonds allow you to do just that. We provide a way for supporters to make a secure social investment and release an up-front, tax-free gift for their chosen cause," he said.

As Citylife, the organisation attracted £16m of investment towards helping people into employment and enterprise or out of debt. As Allia the organisation will continue this commitment offering a new bond every four months for a wider social remit, involving charities from outside of the "unemployment and disadvantage" bracket as well.

Charities benefitting from the first round of the bond include the Paddington Development Trust, Step Forward and Tomorrow's People.