Barclays embraces next-generation FinTech with £3m Trade Ledger investment

Barclays embraces next-generation FinTech with £3m Trade Ledger investment

Barclays, a multinational British banking and financial services company, has made a strategic move into next-generation business finance with a significant investment in Trade Ledger.

The bank has committed £3m to this groundbreaking venture, fostering a three-year technology partnership with Trade Ledger, an innovative working capital orchestration platform.

Trade Ledger’s platform offers revolutionary capabilities in the working capital finance industry, traditionally known for its lack of innovation and often sluggish finance access. The implementation of Trade Ledger’s platform by Barclays aims to transform this landscape, providing corporate clients with speedy, straightforward access to working capital and ultimately unlocking greater cash flow.

The cutting-edge platform, founded on API-driven SaaS technology, introduces a client-centric approach to loan management and onboarding. It eradicates laborious, manual processes by offering real-time access to vital data, including clients’ accounting platforms.

The new funds will be harnessed to expand Trade Ledger’s product capabilities and its footprint in the market.

Barclays’ global head of trade and working capital James Binns highlighted the transformational potential of this investment. He said, “Businesses need access to reliable, flexible finance now more than ever.

“Investing in and implementing the Trade Ledger platform will allow us to make lending decisions faster and more efficiently, using real-time data drawn from a rich variety of sources, and powerful workflows. This drives faster time-to-money, reducing the cost of funding in supply chains, which has huge benefits for our corporate banking clients and the communities they support.”

Martin McCann, CEO and co-founder of Trade Ledger, reflected on the company’s history with Barclays and expressed his enthusiasm for their shared vision. He said, “Our common mission to create a world where every business gets the capital it needs to thrive, is key to our strong working partnership with Barclays.”

Previous investment for Trade Ledger totals £16.6m, raised from various notable investors including venture capitalists Point72 Ventures, Foundation Capital and Hambro Perks, as well as DocuSign founder Court Lorenzini. The company is now preparing for their second close.

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