Trade Ledger, a lending-as-a-service platform, has closed its Series A round on £13.5m to help it triple its customer base.
Point72 Ventures led the round, with commitments also coming from Foundation Capital, Hambro Perks and DocuSign founder Court Lorenzini.
This fresh equity infusion will enable the company to bolster its sales, marketing and customer delivery teams. Furthermore, it hopes the capital will enable it to triple its customer base by the end of the year.
Trade Ledger enables lenders to supply small and medium enterprises with credit. It claims to collate all the information lenders need throughout the customer lifecycle, analyses it and automates key processes.
Point72 Ventures operating partner Alex Tarhini said, “We view Trade Ledger as part of an important wave of companies that are disrupting legacy financial technology and, in doing so, are moving the financial services industry forward.
“Trade Ledger’s data-driven lending capabilities coupled with their embeddable, flexible platform are bringing significant new opportunities to the business lending market, particularly the small and medium enterprises that are the engine of the global economy. Its customers already include the top global credit providers, and we believe it will continue to grow rapidly.”
As part of the deal, Tarhini will join the Trade Ledger board of directors.
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