TRIVER Raises £2.5m for Small Business Working Capital
TRIVER, a leading SME working capital provider in London, has recently raised an additional £2.5m from existing investors to fuel its continued growth in the UK market. The company is committed to revolutionizing how small businesses access short-term working capital by leveraging Open Banking data and sophisticated AI to assess the risk of small business borrowing instantly and automatically. By providing rapid advances on client invoices 24/7, TRIVER offers SMEs a simple and efficient solution to their cash flow challenges, giving them peace of mind and easy access to capital when needed.
This recent funding round follows an initial £7m equity investment in 2023 and a £20m debt facility secured last year.
In its first year of operation, TRIVER has successfully funded over £20m of invoices for more than 250 UK SMEs, setting a new standard for the speed and efficiency of working capital provision. Unlike traditional banks, which can take weeks to open a facility and advance an invoice, TRIVER's streamlined process takes just 20 minutes from application to funds appearing in a business's bank account, earning rave reviews from satisfied customers.
One of TRIVER's key partnerships is with the procurement platform Elcom, which processes billions of pounds in supplier invoices for the public sector each year. Through this collaboration, SME suppliers to the public sector can now receive immediate payment on their invoices, facilitating smoother and more profitable relationships with government clients. With TRIVER's innovative approach to invoice financing, small businesses like Cardans Heating in Hertfordshire are able to unlock their cash flow potential and grow sustainably, seeing real-time benefits in their day-to-day operations.
They've invested in TRIVER
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