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Tradeplus24 secures equity investment and credit facilities

08.02.2019 14:15

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Zurich based Fintech Tradeplus24 has completed their Series A financing round lead by SIX Fintech Ventures, Berliner Volksbank Ventures (BVBV) and Credit Suisse via its investment vehicle “Credit Suisse Entrepreneur Capital Ltd“. In addition, Credit Suisse and Ruvercap granted debt facilities.

Tradeplus24, the unique B2B structured lender that provides working capital facilities to SMEs and Mid Cap companies has diversified its investor pool further by adding two prominent large financial institutions to complement its existing key investor Credit Suisse. SIX Fintech Ventures, BVBV supported by Redstone, Credit Suisse Entrepreneur Capital Ltd (formerly known as SVC Ltd. for Risk Capital for SMEs) and several well- known angel investors participated in the Series A.

In addition, increased debt facilities from both Credit Suisse and Ruvercap will support the growth plans on the operational side. The company has announced that the credit facilities and the amount raised in the Series A round sums up to CHF120m in total but Tradeplus24 did not disclose how much of this money is granted as debt facilities and what amount has been raised as equity investment. As Tradeplus24 has already secured a credit facility of more than CHF100 million in 2017 the share of the credit facilities will be significant and the Series A will be in the range of typical rounds in this phase. Startupticker estimates that the funds raised in the Series A round are between CHF4 and CHF8 million.

Launched in late 2016 and exclusively partnered with Credit Suisse and Switzerland’s largest insurance advisor Kessler & Co AG (Marsh Network), Tradeplus24 specializes in supporting SMEs & Mid-Market companies with their working capital financing needs by providing an innovative worldwide receivables backed lending solutions that makes raising funds simpler and more cost effective. 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”, comments Ben James, CEO, 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”, says Ivo Ronner (Investment Manager, SIX Fintech Ventures).

(Press release - SK)
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