TP24 Receives Mezzanine Funding Facility
Summary
The company intends to use the funds to free up equity capital to accelerate business growth and drive global expansion plans. TP24 is a data-driven business lender providing working capital facilities to SMEs seeking a reliable financing solution. The receivables-backed financing solution provides mid-sized businesses with needed liquidity and enables them to become more independent from banks. At the same time, the over-collateralized security structure and an insurance wrapper provide debt investors with an increased level of security, even compared to alternative lenders in the market. Since 2014, the London-headquartered company has deployed more than $9 billion of assets across fintech lending and working capital financing, including trade receivables, inventory, and supply chain finance.