Tradeplus24, a Zurich based FinTech specialist borrower that focuses on lending to the SME and Mid-Market segments, announced that it has closed a Series A-1 financing led by SVC-Ltd, a wholly owned subsidiary of Credit Suisse that invests in innovative SMEs in Switzerland with other existing investors joining the round as well. Zurich-based Helvetica Capital AG acts as exclusive investment advisor to SVC-Ltd.
Tradeplus24 recognizes that the way SMEs do business is changing. In Europe, the SME faces often increasing payment terms adding further pressure to already stretched working capital solutions. Furthermore, an ever larger part of the turnover is generated in non-traditional emerging markets. Tradeplus24 has created a SME/Mid-Market focused product that offers a new simple way for companies to increase their working capital and lend against their global accounts receivables in a fully automated way.
“At Tradeplus24 we have developed an innovative unique product that will help SME’s leverage their account receivables and grow their business. We are thrilled to have SVC-Ltd as a new Investor and very excited to exclusively offer Credit Suisse customers this great new product here in Switzerland,” said Ben James, CEO and co-founder of Tradeplus24.
“The Tradeplus24 lending product, perfectly builds upon our existing lending offering which allows us to reach out to our existing clients but also tap into new market segments”, said Andreas Gerber, Head of SME Business at Credit Suisse.
Tradeplus24 will use the proceeds of the capital increase to further scale-up support and delivery of Tradeplus24’ automated lending solution as well as develop.