![]() Credit provided by banks is slow to be approved and typically costs between two per cent and four per cent for a 30-day term versus 1.8 per cent offered by Triver. “Triver has by now a proven model that is set to transform the SME finance market in terms of user experience, decisioning speed, and attractive pricing. “We are proud to support Triver in its journey to become a significant funding provider to UK SMEs,” said Christoph Pfundstein, partner at Avellinia Capital. Read more: Investment giants deepen their influence in the private debt space It offers investors a diversified private credit investment strategy targeting an attractive income return. Read more: Westbrooke secures £25m facility for UK private debt fundĪvellinia Capital specialises in providing asset-based financing solutions for early stage, specialty finance originators across consumer and SME lending, leasing and other forms of financing. The average invoice size is £12,000 and the average duration of funding is 30 days. It has already advanced invoices with a combined value of more than £1m. Triver then launched its first prototype in May and opened up to paying customers in August. Sequoia is a VC firm focused on energy, financial, enterprise, healthcare, internet, and mobile startups. The facility follows a £7m equity raise in April 2023, involving Andreessen Horowitz, Stride VC, Axeleo Capital, Motive Partners and Sequoia Capital. “Thanks to continuous access to Open Banking data, we are confident we can manage the credit risk of our customers over the short horizon of their invoices.” “In the current economic climate, we see significant demand from SMEs to access short-term cash flow financing as payment terms extend and banks tighten access to credit,” said Le Luel. Read more: Triple Point agrees £30m credit facility with MT Finance Its chief executive and founder Jerome Le Luel (pictured) was formerly chief risk officer at Funding Circle and former global head of risk analytics for Barclays. Triver – which uses open banking and AI to speed up credit decisioning – said the deal would enable it to channel £200m in finance annually to UK SMEs and invest in product development. Looking for similar opportunities, join Opportunity Cell on Instagram or Telegram here.SME working capital provider Triver has secured a £20m debt facility from Luxembourg-based private credit investor Avellinia Capital.
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