Triver, a London, UK-based company which leverages Open Banking data to fund SMEs’ short-term working capital needs, raised £7M in equity funding.
The venture was backed by Stride. Other seed investors included Axeleo Capital and Motive Partners, with scout investment from Andreessen Horowitz and Sequoia Capital. Angel investors included Triver’s non-executive director Dan Cobley – former Google UK MD and co-founder of ClearScore and Salary Finance.
The company intends to use the funds to expand operations and its business reach.
Led by CEO founder Jerome Le Luel, Triver leverages Open Banking data and AI to fund SMEs’ short-term working capital needs, underwriting the risk of small business borrowing instantly and automatically. It can provide advances on a business’s client invoices 24/7. The platform can be embedded within digital service providers already serving SMEs – for example, accounting platforms, digital banks, payment providers, and procurement tools.
FinSMEs
21/04/2023