Tradeplus24 raises $225 million in pre-Series B round

Existing investors Credit Suisse, SIX Group, and Berliner Volksbank joined the Family Office, which also invested in high growth companies like Klarna, Delivery Hero, and Lyft. Further undisclosed investors also participated in the round. Initially, the company sought$15 million in the equity round; however, the overwhelming investor confidence led to closing a significantly oversubscribed round in just six weeks.

The new capital injection will help the startup to grow and expand its existing operations in Australia and Europe and launch its presence in the UK and Netherlands later this year. The company also plans to make an acquisition to help bolster its technology.

Founded in 2016, Tradeplus24, a specialist in lending to the SME segment, utilises a fully automated digital solution and portfolio lending structure to reduce administration work for all involved significantly. The company lends between $500,000 and $10 million using a borrower’s receivables as security. It also buys insurance against missed payments to minimise risk. The startup provides funding for receivables from both domestic and international debtors.

Global success
Following its expansion to Australia, Tradeplus has already funded nearly 25 SMEs with almost $100 million in debt facilities. The company’s Australian arm has also witnessed a 3x increase in customers in Q2 2021.

Tradeplus24’s global team also doubled in size during 2021, and new offices in Melbourne, Brisbane and Sydney opened as affirmed in a statement by Adam Lane, Managing Director at Tradeplus24 to the Australian Broker.

The fresh funds will boost Tradeplus24’s lending capabilities as well as its acquisition goals aimed at bolstering its technological proficiency.

(Press release/RAN)