A bumper week for new guys on the block, having only less than a week ago announced a successful investment round. Launched in late 2016 and partnered with global player AIG and Switzerland’s largest insurance advisor Kessler & Co AG (Marsh Network). Tradeplus24 AG offer a unique combination of trade credit insurance & working capital lending to the Swiss SME segment.
The Zurich based Fintech said that the facility will be used to fund future loan growth, unlike many SME lenders in Switzerland, TP24 does not subscribe to the peer to peer lending model, but guarantees the availability of funds for its customers by using a direct lending model.
“This is an important milestone in the future of TP24, securing this facility gives surety to existing and future customers that they can rely on us to continue to deliver uncomplicated liquidity.” Says Ben James, CEO of Tradeplus24
“Tradeplus24 has an exceptional business model with a superior technology compared to even some of the biggest banks in Switzerland, the model is not only secure for its borrowers but also its financing partners, OceanoOne is extremely pleased to be supporting TP24 with this credit facility.” Says Marc Clapasson, CEO of OceanoOne.