Lending-as-a-service (LaaS) platform Trade Ledger has raised £13.5 million in a Series A funding round led by Point72 Ventures – a VC firm founded by billionaire Steven Cohen. Alex Tarhini, Operating Partner at Point72 Ventures will be joining the board of the firm.
Trade Ledger offers both secured and unsecured business lending services, designed to facilitate credit that is offered at the right time, quickly, at low risk. Trade Ledger reports that its clients boost their profitability by reducing origination cost, on average, of 60% as well as a 50% reduction in dropouts.
Last month, Trade Ledger tweeted it was in a period of hyper-growth. The company is banking on the emergence of embedded Fintech or Fintech everywhere – the thesis that financial services should be there when you need them wherever that may be.
📢 We’re in hypergrowth and we’re hiring.
If you’re ambitious and perhaps a bit idealistic, hit us up!
We’re looking for :
🦹♀️ Customer Delivery Manager in London 🇬🇧
💻Customer Support Engineer (3rd Level) in Sydney 🇦🇺
👩💻Engineering Manager in Sydney 🇦🇺https://t.co/NFu3HeIqk4 pic.twitter.com/E3F5Icifdf
— Trade Ledger® (@TradeLedger) January 13, 2021
Trade Ledger notes that there is a £1.2 trillion global credit gap for SMEs. As a cloud-native Banking-as-a-Service (BaaS) platform the company supports services like Invoice Finance, Commercial Loans (RCF), Equipment Finance, Asset-Based Lending (ABL), Supply Chain Financing & Factoring.