– UK, London – Trade Ledger, the global technology provider to the commercial banking and financial services industry, has raised a total of £13.5 million to complete its Series A funding round led by Point72 Ventures, with strong participation from Foundation Capital, Court Lorenzini, founder of DocuSign, Hambro Perks, and other existing investors.
Concurrent with the financing, Alex Tarhini, Operating Partner at Point72 Ventures will join the Trade Ledger board. He joins
- Court Lorenzini, founder of DocuSign, who joined as a non-executive director in 2020;
- George Davies, who joined as a non-executive director in 2019;
- Martin McCann, co-founder;
- Matt Born, co-founder;
- Angus Davis, partner at Foundation Capital, continues as a board observer.
With the new funding, Trade Ledger will grow out its sales, marketing and customer delivery teams.
Martin McCann, CEO of Trade Ledger, said: “This new investment will enable us to triple our customer base during 2021. Adoption of our technology is critical for the post-pandemic recapitalisation of the economy and we are driving growth as fast as our capital allows, to be able to support this critical economic need, particularly for SMEs. New digital solutions based on real-time business data are the only way to address it.”
Alex Tarhini, Operating Partner at Point72 Ventures, said: “We view Trade Ledger as part of an important wave of companies that are disrupting legacy financial technology and, in doing so, are moving the financial services industry forward. Trade Ledger’s data-driven lending capabilities coupled with their embeddable, flexible platform are bringing significant new opportunities to the business lending market, particularly the small and medium enterprises that are the engine of the global economy. Its customers already include the top global credit providers, and we believe it will continue to grow rapidly.”
George Davies, Partner at Hambro Perks, said: “We are delighted to continue to back Martin, Matthias, and the entire Trade Ledger team in their mission to build the leading technology to enable lenders across the world to provide funding to SMEs. Since our initial investment in 2019 the team has signed global blue-chip clients, built an outstanding team, and developed a market leading product. We are excited to continue to support Trade Ledger.”
About Trade Ledger
Trade Ledger was founded in 2016 to help the financial services sector reimagine complex business finance for SMEs and mid-market corporates in the digital economy.
The lending-as-a-service platform supports all secured and unsecured business lending products, transforming data sources from the supply chain into actionable insights and tasks. This enables the right lending products to be created and offered at the right time, over the right channel, quickly, at low risk. Its clients boost their profitability, realising on average a 60% origination cost reduction, a 50% reduction in dropouts and loan book growth potential of over 100% through embedded finance.
Backed by venture capitalists Point72 Ventures, Foundation Capital and Hambro Perks, and other notable investors such as Court Lorenzini (founder of DocuSign), Trade Ledger is currently scaling globally to accommodate a fast-growing client base of global trade banks, regional and national banks, and alternative finance providers. To date it has raised £16.6 million.
Trade Ledger was awarded LendTech Initiative of the Year 2020, Lending Platform of the Year 2019, and Startup of the Year 2019.
For more information : https://tradeledger.io/
About Point72 Ventures
Point72 Ventures is a global venture capital firm led by a diverse set of domain experts with the capital to lead rounds through all stages of a company’s growth. The firm invests primarily in Fintech, AI/ML, Enterprise and Healthcare technologies. As an independent arm of Point72, the global asset management firm led by Steven A. Cohen, Point72 Ventures offers well-informed insights into the global economy. Point72 Ventures has offices in New York City, Palo Alto, California, and Stamford, Connecticut.
For more information : https://p72.vc/
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