Prague-based 4Trans picks up €18 million to improve access to the financial world for Europe’s hauliers
Summary
From a massive surge in ecommerce demand to supply chain crises and economic uncertainty, small and medium sized hauliers are struggling. An additional burden is a lack of access to finance and slow invoice payments most existing financial insinuations dont cater to the specific needs of this group.Aiming to plug the gap, and fuel better operations for Europes hauliers, 4Trans has just secured a fresh 18 million in equity and debt funding from backers including Atmos, 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.Founded in 2018, the Czech startup provides financial products for small and medium-sized companies operating in supply and logistics. By using data analysis and automation, 4Trans is able to do instant risk modelling and, as the service is fully digitalised, customers can receive payment of invoices of any size in five minutes a monumental upgrade from the 3-month average companies currently face.Jaroslav Ton, CEO of 4Trans, explained: The supply chain crisis alongside political and economic uncertainty has led to a huge increase in delays to invoices being paid. In 2022, 4Trans customer base has grown to 500 and monthly revenue has increased 1fold on the back of the unfolding supply chain crisis.The company further reports that to date, it has provided more than 30 million financings, protecting revenue from more than 50k invoices.Hadi Solh, Managing Partner at deep-tech-focused Atmos Ventures, said: 4Trans is a pioneer in AI-enabled risk assessment in supply chain financing.