Stockholm-based fintech Treyd, known for its ‘sell first, pay suppliers later’ offering, has announced its expansion into the Irish market.
Following a successful entry into the UK in 2022, Treyd is now set to provide Irish SMEs with a solution for financing their inventory.
Treyd pays suppliers upfront on behalf of growing retail businesses, which solves the common challenge of having working capital tied up in inventory, thus enabling D2C and B2B SMEs to sell more goods, control cashflow, and finance inventory purchases for up to four months to free up capital for operational growth.
Treyd’s offering will provide Irish SMEs an innovative method of stock financing, providing an alternative to existing revenue-based solutions. Irish SMEs will now be able to extend payment terms on supplier invoices by 120 days, relieving cash flow pressures associated with buying stock..
In 2022, the company grew its global customer base of small and medium enterprises by 500 per cent and revenue by 1000 per cent, while also expanding internationally, including into the UK where it now works with over 150 SMEs.
“The funding landscape for SMEs has evolved significantly in the past year, with banks tightening credit processes and venture capital becoming less accessible,” said Ben Ingram, head of partnerships for the UK & Ireland at Treyd. “Treyd’s stock financing solution fills a crucial gap, providing SMEs with the working capital needed for sustained growth.”
Peter Beckman, CEO and co-founder of Treyd, also added: “Ireland presents an exciting new market for Treyd and aligns with our ambitious strategy for global expansion. Since our successful UK launch in 2022, we have been working diligently on our plan to enter the Irish market, providing sustainable solutions for local SMEs and businesses.
“With a track record of assisting more than 650 SMEs worldwide and funding invoices worth over €175mIllion, we are eager to collaborate with Irish companies and contribute to their growth.”