TP24 offers flexible revolving business credit to SMEs that is secured against outstanding invoices while leaving the debtor base with the client. The company provides loans from £250,000 to £5,000,000 to eligible UK SMEs that have been operational for at least three years and maintain a debtor base above £350,000. TP24 was launched in Switzerland in 2018 and has since opened branches in Australia (2019), the UK (2021) and the Netherlands (2022); it is London-based and privately owned. Its main shareholders include Credit Suisse, SIX Group and Berliner Volksbank Ventures. The firm intends to use new funding to expand operations and increase lending to SMEs in the UK and the Netherlands, and to support its Australian lending capacity. The product differentiates from factoring by not taking over outstanding invoices. TP24 is a Zurich, Switzerland-based, data-driven business lender that provides receivables-backed working capital facilities to mid-sized companies. Its financing solution offers over-collateralized security and an insurance wrapper to increase protection for debt investors relative to alternative lenders. The company aims to reduce SMEs' dependence on banks by supplying needed liquidity. TP24 received a mezzanine funding facility from Channel Capital Advisors; the amount was not disclosed. It intends to use the funds to free up equity capital to accelerate business growth and pursue global expansion plans. No revenue or user metrics were disclosed in the article. Tradeplus24 offers a tech-enabled line of credit solution aimed at addressing SME working capital needs, especially loans between $500k and $10 million. The product leverages data to manage risk more effectively and to create bespoke solutions for priority segments. The company has been investing in technology and growing its teams, with its Australian team doubling in four months and the global team also doubling this year. Tradeplus24 reported strong customer growth, trebling customer numbers in Q2 2021. The firm is using new capital to expand Australian and European operations and to launch into the UK and the Netherlands later in the year. It has secured more than $200 million in total debt facilities across the group and plans to increase that to $400 million by the end of 2021. Tradeplus24 offers worldwide receivables-backed lending solutions that make raising working capital simpler and more cost effective for SMEs and mid-market companies. Launched in late 2016 and based in Zurich, the company is exclusively partnered with Credit Suisse and insurance advisor Kessler & Co AG (Marsh Network). Its solution is integrated into Credit Suisse’s product portfolio for SME clients and client feedback has been reported as very positive. Tradeplus24 announced plans to double down on the Swiss market and begin global expansion. Financially, the company reported that its Series A plus credit facilities sum to CHF120m in total, though it did not disclose the split between equity and debt. The firm previously secured a credit facility of more than CHF100m in 2017; industry estimates place the Series A equity tranche between CHF4–8m. Tradeplus24 offers an automated lending product that enables SMEs and mid-market firms to increase working capital by lending against global accounts receivable. The company positions its product to address lengthening payment terms and the growing share of turnover in emerging markets. Tradeplus24 plans to use recent proceeds to scale up support and delivery of its automated lending solution and further product development. The firm is Zurich-based and targets SME and mid-market segments across Europe and beyond. Credit Suisse, via its SVC-Ltd vehicle, will also offer Tradeplus24’s product to Credit Suisse customers in Switzerland, expanding distribution reach. The company emphasized the solution’s simplicity and automation as core differentiators for stressed working capital environments.

Total raised

$829M

Funding rounds

9

Latest round

Preferred

Latest activity

Jul 2023