Stockholm-based fintech Treyd secures €11.2 million in extension of Series A to achieve profitability
Summary
Treyd, a Stockholm-headquartered fintech that pays suppliers upfront on behalf of growing retail businesses, announced the completion of a €11.2 million extension of its March 2022 Series A funding. The new capital will be used to grow existing markets, invest in the core product offering, and work towards achieving profitability. Peter Beckman, CEO and Co-Founder of Treyd, commented: “Since launching the “sell first, pay suppliers later” category three years ago, we’ve had an overwhelming response from the brand and retail community. Stefan Nordahl, Founder and CEO of Nineyards Equity, said: “We’re impressed by what the team has achieved in this short period of time, especially in this market environment. The success of Treyd demonstrates the continued growth potential for fintech companies to transform outdated financial practices and drive efficiencies and reduced costs for SMEs.