London-based TRIVER raises further €22.9 million to revolutionise how SMEs access finance with Open Banking
Summary
The deal, a €22.9 million debt facility with Luxembourg-based Avellinia Capital, will enable TRIVER to offer over £200m of funding annually to help small businesses in the UK and further its product development. Faster and more easily than high street banks, it can provide advances on a business’s client invoices 24/7, offering peace of mind of simple access to capital when needed. Nor do they have to make personal guarantees when applying to us.” With TRIVER, small businesses are granted a new facility within 3 hours of starting their application, and invoices typically take 2.5 minutes to fund. Christoph Pfundstein, Partner at Avellinia Capital, added: “We are proud to support TRIVER in its journey to become a significant funding provider to UK SMEs. TRIVER has by now a proven model that is set to transform the SME finance market in terms of user experience, decision speed, and attractive pricing.