TP24 lands CHF400million of additional funding from Barclays and M&G

This landmark transaction stands out as one of the largest fundraisings in the global private debt market for alternative SME lenders and FinTechs in 2023. TP24’s achievement highlights its exceptional growth trajectory and solidifies its position as a prominent player in the international SME lending space.

The multi-currency facility will be allocated across Australia, UK, and the Netherlands, driving accelerated growth in these markets, increase net interest margins and establishing a robust capital pool SMEs can rely on.

“Barclays is pleased to support TP24 on its mission to provide innovative lending solutions to SMEs across Australia, the UK, and the Netherlands. Barclays is proud to be partnering with TP24 as it leads this innovation on a global stage”, said Gordon Beck, European Head of Corporate & Sustainable Securitisation at Barclays.

Originally launched in Switzerland in 2018, TP24 expanded into Australia in 2021, the UK and the Netherlands in 2022. Its flagship product, CreditLine, is a unique asset-backed lending solution for B2B SMEs. It allows SMEs to leverage their receivables as collateral using a sophisticated securitisation methodology. Credit is secured against a floating asset base, monitored daily in a fully automated process via its proprietary system, and wrapped by a globally unique insurance package. TP24 offers lines between CHF250k to CHF5mn and since its founding, has processed over CHF7bn in volume.

“This transaction marks a monumental milestone for TP24 and reinforces our position as a frontrunner in the FinTech SME lending space. The overwhelming support from Barclays and M&G reflects their confidence in our unique business model, state-of-the-art technology, and commitment to empowering the entrepreneurial SME ecosystem. We are excited about the opportunities ahead”, commented Ben James, Founder and CEO TP24.

(Press release / SK)