Triver secures £20m debt facility from Avellinia Capital to expand SME financing
The debt facility will enable the fintech to provide over £200m in annual funding and advance its product development.
Share allotment filed at Companies House
London-based Triver provides automated short-term working capital to small businesses by integrating with digital service providers.
London fintech Triver has secured a £20m debt facility from Avellinia Capital to scale its working capital services for small businesses. The fresh capital will allow the firm to deploy upwards of £200m in annual funding while advancing its core technology.
Founded in 2022 by Jerome Le Luel, Triver automates the underwriting process using open banking data and advanced analytics to provide rapid invoice advances. The company launched commercial operations earlier in the year and has already forged partnerships with multiple distribution channels.
From the founder
"The vast majority of SMEs we interact with are willing to grant us access to their bank data via Open Banking. They’re familiar with this tool because it is commonly used with their accounting software. They see the benefit of a simpler process than manually providing bank statements and other data. Nor do they have to make personal guarantees when applying to us."
Jerome Le Luel
Founder & CEO at Triver
Investor perspective
"We are proud to support Triver in its journey to become a significant funding provider to UK SMEs. 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. Credit provided by banks is slow to be approved and typically costs between 2% and 4% for a 30-day term versus 1.8% offered by Triver. There is enormous potential."
Christoph Pfundstein
Partner, Avellinia Capital
Use of funds
- 01Continue product development
