UK fintech Triver secures £20m debt facility from Avellinia Capital

London-based fintech start-up Triver secures £20 million debt facility with Avellinia Capital.
Triver plans to offer over £200 million in funding annually to SMEs and enhance product development.
Founded by Jerome Le Luel, former chief risk officer at Funding Circle and global head of risk analytics at Barclays.
Utilizes open banking data and AI to fulfill small businesses’ short-term working capital needs.
Claims to provide faster and easier advances on client invoices compared to high street banks.
Raised £7 million in equity in April with participation from notable investors, including Andreessen Horowitz and Sequoia Capital.
SMEs grant access to bank data via open banking, appreciating a simpler process without personal guarantees.
Experiencing significant demand, with the platform granting a new facility within three hours and funding invoices in 2.5 minutes.
Future plans include forging partnerships in banking, accounting software, insurance, utilities, and foreign exchange sectors.