Swedish fintech Treyd, providing upfront supplier payment solutions for retail businesses, has seen plenty of growth since its March 2022 $10 million Series A funding round. The firm says it has expanded into the UK and throughout the Nordics, and financed $149 million of purchases for fast-growing SMEs in Northern Europe. Its customer numbers have multiplied sixfold to over 600 and it now employs over 60 people.
It has raised an additional $12 million to add to its March 2022 Series A funding. This brings the total investment in the Stockholm-based firm to $25 million. The round is led by Swedish investment company Nineyards Equity (also led Treyd’s Series A round), together with Antler, Zenith VC, and J12 Ventures. The fresh capital will see further growth in existing markets and investment in its core product offering as the fintech works towards achieving profitability.
“We're impressed by what the team has achieved in this short period of time, especially in this market environment. 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," says Stefan Nordahl, founder and CEO of Nineyards Equity
“Since launching the 'sell first, pay suppliers later' category three years ago, we’ve had an overwhelming response from the brand and retail community. Today, we’re helping the growth of hundreds of the most exciting fast-growing SMEs across the UK 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,” says Peter Beckman, CEO and co-founder of Treyd.