- London-based fintech is revolutionising how SMEs access finance with an industry-first API for fintech and SaaS partners that uses Open Banking data and sophisticated AI.
- Backers include Stride, Axeleo Capital, Motive Partners, Andreessen Horowitz and Sequoia. Former Google UK MD, Dan Cobley appointed a non-executive director.
- CEO founder Jerome Le Luel is former Funding Circle Chief Risk Officer and former global head of risk analytics for Barclays.
Triver has announced it has raised £7m equity from top investors to revolutionise how small businesses can access finance.
The Osborne Clarke team which advised Triver included corporate associate director James Taylor and senior associate Adam Turner. Partner Anika Chandra and senior associate Rhiannon Jones advised on employee incentives. Senior associate Jaskirat Singh advised on commercial matters and associate Ed Grey advised on employment.
Leveraging Open Banking data and sophisticated AI, Triver funds SMEs’ short-term working capital needs, underwriting the risk of small business borrowing instantly and automatically. 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.
Through this automated approach, SMEs can access finance equivalent to up to 20% of their annual turnover, instantly, and at a more competitive rate than other small business financing options in the market. Transaction-level insights mean Triver understands the likelihood of a small business to pay back.
The venture is backed by Stride, whose team has backed early-stage businesses such as Deliveroo and Zoopla. Other seed investors include Axeleo Capital and Motive Partners, with scout investment from Andreessen Horowitz and Sequoia Capital. Angel investors include Triver’s non-executive director Dan Cobley – former Google UK MD and co-founder of ClearScore and Salary Finance.
Triver is led by CEO founder Jerome Le Luel, one of the world’s foremost experts in deploying advanced credit analytics at world-class lenders. He is former Chief Risk Officer at Funding Circle and former global head of risk analytics for Barclays.
Jerome is joined by a strong founding team who know how to build sophisticated lending technology. They bring expertise gained at Barclays, Capital One, MarketFinance, Credit Karma, BCG, and more.
Osborne Clarke's international financial services sector team advises clients ranging from start-ups, scale-ups/growth businesses and FinTech unicorns to challenger banks, payments, retail and consumer finance, platforms, large corporates and institutions as well as lenders, investors and industry bodies and regulators.
To find out more visit triver.com