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November 22, 2023

London Fintech Trailblazer Triver, Secures £20M Boost for SME Finance Revolution

In a game-changing move reshaping the financial landscape for small businesses, river has secured £20 million

In a groundbreaking move reshaping the landscape of small business finance, London-based fintech Triver has clinched an impressive £20 million in a debt facility from Luxembourg's Avellinia Capital. This strategic funding is set to empower Triver to deliver over £200 million in annual funding to support small businesses across the UK, while furthering its commitment to innovative product development.

Embarking on a mission to redefine how small enterprises access crucial financial support, Triver has emerged as a beacon of change in the fintech realm. The recent infusion of £20 million in debt capital marks a pivotal moment for the company, propelling its vision to empower small businesses and foster their growth in a dynamic economic landscape.

Founded in 2022 by Jerome Le Luel, a seasoned expert in advanced credit analytics, Triver leverages Open Banking data and cutting-edge AI to swiftly underwrite and fund short-term working capital needs for small businesses. The platform's unique approach ensures rapid access to capital, surpassing traditional banking methods. By providing advances on client invoices 24/7, Triver caters to the immediate financial needs of small businesses, offering a seamless and stress-free experience.

Designed for integration within digital service providers catering to SMEs, Triver facilitates a streamlined and automated process. Since its launch in May, Triver has gained significant traction, with a commercial proposition rolled out in August. The company has already advanced invoices totaling over £1 million, showcasing the effectiveness of its model.

As Triver continues to make waves in the SME finance market, its commitment to user experience, rapid decision-making, and competitive pricing is evident. With a proven track record and a network of 11 distribution partners, including key players like Funding Options by Tide and Clear Business Finance, Triver is poised to revolutionize SME finance. The infusion of £20 million in funding amplifies its potential to meet the growing demand for short-term cash flow financing in the current economic climate.

Jerome Le Luel, Founder & CEO: “The vast majority of SMEs we interact with are willing to grant us access to their bank data via Open Banking. They see the benefit of a simpler process than manually providing bank statements and other data.”

Christoph Pfundstein, Partner at Avellinia Capital: “Triver has a proven model that is set to transform the SME finance market in terms of user experience, decisioning speed, and attractive pricing. There is enormous potential.”

Steve Green, Director at Clear Business Finance: “Our customers that have used Triver tell us they highly appreciate the experience. With this very robust proposition, we believe instant capital delivered through Triver will quickly grow in popularity.”

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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