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The rising star in the FinTech sector, Treyd, has recently secured an impressive $12 million in an extension of its Series A funding. This move is set to further solidify its position in the market and pave the way for an expanded product range.
Treyd’s Financial Milestone
Treyd’s recent funding has pushed its total investment to a whopping $25 million. The primary goal behind this financial boost is to expand into new markets, refine their core products, and set a clear path to profitability.
Key Investors in the Round
The funding round witnessed participation from some notable names in the investment arena. Leading the charge was the Swedish investment firm, Nineyards Equity. They were joined by Antler, Zenith VC, and J12 Ventures, showcasing a strong vote of confidence in Treyd’s vision and capabilities.
CEO’s Vision for the Future
Peter Beckman, the CEO and co-founder of Treyd, expressed his enthusiasm about the company’s journey. He highlighted Treyd’s innovative approach of allowing retailers to sell first, pay suppliers later. This unique model has garnered significant attention from the brand and retail community. Beckman envisions using the latest investment to enhance their platform and product offerings, aiming to support the growth of numerous SMEs in the UK and Nordics.
Treyd’s Impact on Retail
Treyd’s innovative business model has made waves in the retail sector. By offering upfront payments to suppliers on behalf of growing retail businesses, they’ve created a win-win situation. Retailers can sell products first and settle payments with suppliers later. This approach has catalyzed the growth of hundreds of SMEs, particularly in the United Kingdom and the Nordic countries.
Nineyards Equity’s Take on Treyd
Stefan Nordahl, the founder and CEO of Nineyards Equity, lauded Treyd’s achievements. He emphasized Treyd’s ability to deliver substantial growth in a challenging market environment. Nordahl believes that Treyd’s success in maintaining excellent default rates while achieving significant growth showcases its value proposition to SMEs globally.
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