Prague-based 4Trans has secured an €18 million investment in equity (€3 million) and debt (€15 million) as it aims to further strengthen its market position within the region.
By employing a combination of AI-driven data analysis and automation functions, 4Trans is providing European haulers with up to 80% of an issued invoice in as little as five minutes; a stark contrast to an industry-standard three months.
Having seen some 50,000+ invoices pass through its doors, a future that accounts for more than €30 million in financing, 4Trans reports a 10x increase in monthly revenues since the beginning of this year.
4Trans CEO Jaroslav Ton further commented, “The supply chain crisis alongside political and economic uncertainty has led to a huge increase in delays to invoices being paid. This has put considerable financial pressure on Europe’s small and medium-sized haulers. Unfortunately, most traditional financial institutions simply do not cater to this group, and those that do take too long to provide financing or require very large invoices. We’ve created a range of solutions that give the small and independent entrepreneurs within the European supply chain the protection they need and deserve.”
“Innovation continues to penetrate new niches and verticals of the financial industry and 4Trans is a perfect example where designing products and services from the ground up using the latest technology enables to provide customers with the much-needed product and delightful experience unattainable by incumbent players,” concluded Tera Ventures’ Stanislav Ivanov.