4Trans, a Czech-based FinTech specialising in financial products for supply chain and logistics companies, has raised €18m.
The round saw participating from tmos, Tera Ventures, and Lighthouse. Impact investment fund management firm based in the UK, Advance Global Capital has also extended a revolving credit facility to the firm.
4Trans provides financial products for small and medium sized companies operating in supply and logistics, an industry which it says is underserved by financial services. By securing payment for their invoices up front via 4Trans’ AI driven factoring services, business can protect their finances. 4Trans also deploys data analytics and automation to risk model, in addition to customers being able to receive payment of invoices in five minutes, in contract to the three month average for invoice payments.
The Czech Fintech said it will use the fresh funding to strengthen domestic operations, expand to Poland, develop its platform and grow it international team.
The company also noted that the financing follows a period of “rapid growth” in 2022 in which it say its customer base growth to 500 and monthly revenue increase ten-fold. 4Trans said it has provided more than €30m in financing to data, protecting more than 50,000 invoices.
Jaroslav Ton, CEO of 4Trans, said, “The supply chain crisis alongside political and economic uncertainty has led to a huge increase in delays to invoices being paid. This has put considerable financial pressure on Europe’s small and medium sized hauliers. Unfortunately, most traditional financial institutions simply do not cater to this group and those that do take too long to provide financing or require very large invoices.
“We’ve created a range of solutions that give the small and independent entrepreneurs within the European supply chain the protection they need and deserve”.
Earlier this year, TideLift raised $27m in a mission to tackle supply chain security challenges.
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