TRIVER Secures Up To £114M To Revolutionise How Small Businesses Access Cash Flow Finance

The London-based fintech firm leverages Open Banking data and sophisticated AI to underwrite the risk of small business borrowing instantly and automatically. Faster and more easily than high street banks, it can provide advances on a business’s client invoices 24/7, offering peace of mind of simple access to capital when needed.

With TRIVER, small businesses are granted a new facility within 10 minutes of starting their application, and invoices typically take less than 5 minutes to fund. In comparison, banks generally take up to 4 weeks to open a facility and 24 hours to advance an invoice because of their manual processes. TRIVER’s fees start at 1.8% for a 30-day invoice making it not only fast, but affordable.

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TRIVER’s £114m financing is part equity – a £14m Series A round led by AlleyCorp, with the support of Axeleo Capital, Inkberry Ventures, Stride VC, and others – and part debt facility secured with HSBC Innovation Banking UK and Avellinia Capital. HSBC Innovation Banking has provided £35m in debt financing, with an additional £35m potentially available in the future, subject to credit approval, while Avellinia Capital has extended its facility to £30m.

It brings TRIVER’s total VC investment to date to £21m and increases its combined debt facility from £20m to £65m, potentially rising to £100m. This will enable TRIVER to offer £1bn of funding annually to help small businesses in the UK. The facility includes the backing of the British Business Bank through its partnership with Avellinia Capital to boost funding for UK fintech lenders.

TRIVER was founded in 2023 by a team led by Jerome Le Luel, former Funding Circle Chief Risk Officer and Global Head of Risk Analytics for Barclays. It currently serves 1,500 clients and has financed more than 17,000 invoices worth £180m since launch. With an outstanding Net Promoter Score (NPS) of 94 it sees strong repeat use and customer loyalty.

Success to date is underpinned by TRIVER’s pioneering approach to embedded invoice finance. Its API-first platform integrates seamlessly with the digital service providers SMEs already rely on to run their businesses.

Building on this, TRIVER has announced a new partnership with Xero, the online accounting software provider. The integration enables Xero customers to turn their client invoices into instant cash flow via their Xero accounts.

Embedding with software providers and digital business banks, TRIVER’s partners include payment platform Birdie, accounting software provider Clear Books, procurement platform Elcom, and spend management platform Soldo. It works with over 200 SME lending brokers and is actively building partnerships with further software and service providers which form part of SME workflows.

Jerome Le Luel, TRIVER founder & CEO, said: “We solve one of the biggest problems in the real economy – suppliers and staff need to be paid on time, yet clients take time to pay.

“With 55 days of average payment terms, UK small businesses are constantly owed £150bn in commercial invoices waiting to be paid. TRIVER allows these businesses to turn their client invoices into instant cash flow, at any time, to fund working capital needs. This is the most flexible and cost-effective solution to smooth cash flow without taking new debt.

“Using AI and Open Banking, we’ve completely revolutionised how this works while ensuring transactions are secure. The significant financing we’ve announced means we can accelerate our growth and help even more British small businesses to thrive.”

Clare Mitchell, Director, Fintech at HSBC Innovation Banking UK, said: “We’re delighted to be supporting TRIVER with this new facility, enabling the company to continue to scale its cashflow finance offering to an ever-growing number of small businesses across the UK.

“At HSBC Innovation Banking, we have the tools, experience, and connections to help ambitious fintechs, like TRIVER, through every stage of their growth journey. We’re proud to be working with the TRIVER team, alongside Avellinia Capital as an additional financing partner.”

Series A investment announced today and new debt facility with HSBC Innovation Banking UK means TRIVER will be able to offer £1bn funding annually to help UK SMEs TRIVER uses AI and Open Banking to provide instant and affordable access to capital for small businesses faster than any other provider Accounting platform Xero is latest partner to embed TRIVER in software used by SMEs