Treyd extends Series A funding with extra €11.2 million to empower SMEs
Treyd, the Stockholm-based fintech firm that facilitates upfront payments to suppliers for growing retail enterprises, has recently secured an additional €11.2 million in funding as an extension of its Series A round in March 2022. With this latest funding injection, Treyd’s total investment now stands at €23.3 million.
Swedish investment firm Nineyards Equity, the same entity that led Treyd’s Series A round, takes the lead once again in this funding round. Antler, Zenith VC, and J12 Ventures also joined the investment efforts.
Treyd will use these funds to advance its existing markets, enhance its core product offerings, and pursue the goal of achieving profitability.
“Since launching the “sell first, pay suppliers later” category three years ago, we’ve had an overwhelming response from the brand and retail community,” said Peter Beckman, CEO and co-founder of Treyd.
“Today, we’re helping the growth of hundreds of the most exciting fast-growing SMEs across the U.K. and Nordics. With this latest investment, we will be able to yet further improve our support of these and many more companies, by fundamentally upgrading our platform and product offering.”
In the span of 15 months following Treyd’s initial €9.3 million Series A investment, the company has made substantial strides, expanding its presence into the UK and various regions within the Nordics.
During this time, Treyd also witnessed a sixfold increase in its customer base, totalling over 600 clients, and tripled its team size to 60 employees. The company has so far facilitated $149 million (£117 million) in purchases for fast-growing SMEs in Northern Europe.
Stefan Nordahl, founder and CEO of Nineyards Equity, commended Treyd’s achievements in such a short span, particularly within the current market climate.
“Treyd’s ability to deliver cost-effective triple-digit growth while maintaining best-in-class default rates is a proof point of their ability to navigate and execute, and also the true value-add Treyd brings to SMEs worldwide,” he said.
Since its establishment in 2019, Treyd has been operating in the buy now, pay later (BNPL) services for international supply chains. It offers suppliers upfront payments while giving companies 120 days to settle the balance to facilitate smoother cash flow and enable them to focus on growth opportunities.
Har du nyhetstips eller synpunkter? Kontakta oss