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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.

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