CHF 120 million for Swiss fintech startup Tradeplus24
The Venture Leaders Fintech startup Tradeplus24 AG raised over CHF 120 million in equity and debt, a record for Swiss fintech startups, in a round led by SIX Fintech Ventures, Berliner Volksbank Ventures (BVBV) and Credit Suisse.
Tradeplus24, which provides working capital loans to small, medium and mid-cap companies, closed its Series A round adding SIX Fintech Ventures and BVBV as investors alongside existing investor Credit Suisse Entrepreneur Capital and Ruvercap, who further bolstered the Zurich-based startup's debt facilities to support growth.
Launched in late 2016, Tradeplus24 specializes in supporting SMEs & Mid-Market companies with their working capital financing needs by providing innovative worldwide receivables-backed lending solutions that make raising funds simpler and more cost effective.
Chief executive Ben James was selected as one of the 10 fintech founders for the Venture Leaders Fintech investors roadshow to New York last September.
"Venture Leaders Fintech is an outstanding opportunity to showcase your business to some of the top US investors and corporates that have the power to take your company to the next level."
Nowadays, the solution is part of Credit Suisse’s product portfolio for SME clients in Switzerland who are looking for flexibility when it comes to open receivables. Client feedback has been very positive.
“Adding SIX and Berliner Volksbank to our investor family is a truly great step for TP24, this additional growth capital will allow us to double down on our commitment to the Swiss market and also start our global expansion plan. We are also very pleased that both Credit Suisse and Ruvercap will provide additional debt capital to support this growth” says Ben James, CEO of Tradeplus24.
“SIX evaluated many lending companies and found TP24’s unique approach the most appealing, Tradeplus24’s commitment to supporting Swiss companies both exporting and domestically focussed with raising much needed working capital is very aligned to the goals of SIX” Ivo Ronner, Investment Manager, SIX Fintech Ventures
“BVBV has a clear focus on innovative technologies for SMEs and the finance sector, Tradeplus24 brings significant value in both of these spaces. Underpinned by a first class team of experienced professionals, made this investment an easy one” Andreas Laule, Managing Director, Berliner Volksbank Ventures
TP24: Making structured lending available to SMEs
TP24 is a Zürich based FinTech with offices in Switzerland, Australia, the UK and Netherlands. We’re making it our mission to solve some of the world’s biggest lending challenges. For banks. For insur... Read more
