Business lending platform Trade Ledger has scored a £1.5m strategic investment from a group of investors led by Hambro Perks.
The equity was raised to accelerate the revenue growth of the startup.
Founded in 2016, Trade Ledger leverages financial data APIs, machine learning, AI, and robotic process automation technologies to enhance and replace legacy systems in banks for origination, credit decisioning, take on and loan management to improve business financing.
Its technology can reduce the time-to-cash from 90 days to around four minutes, it claims.
Trade Ledger’s co-founder Martin McCann said, “There is a £1.2 trillion gap in credit that businesses need to optimise growth which is why we created this lend-tech.
“We believe that only by reimagining new types of credit services only possible with this lend-tech, can banks solve this massive business problem profitably and at scale globally. By leveraging open trade data via APIs alongside other enterprise-grade enabling technologies, financial institutions can drive significant operational efficiencies and product innovation within their internal operations and dramatically increase market share.”
Earlier in the year, Hambro Perks participated in the £7m of PrimaryBid. The FinTech helps connect publicly listed companies with everyday investors for discounted share issuances.
There have been a number of marketplace lending technology startups to secure funding in the past week. Become, an SME lending platform, recently secured $10m in a Series A and digital lending solution Ellie Mae acquired technology developer Capsilon.
The biggest marketplace lending segment in FinTech is the SME financing industry, which has received around 33% of the total investments since 2014.
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