Trade Ledger secures £13.5mn in Series A funding led by Point72 Ventures
By Megha Bhattacharya
Trade Ledger has secured £13.5 million to complete its Series A funding round led by Point72 Ventures along with participation from Foundation Capital, who led the debt tranche closed previously, Court Lorenzini, founder of DocuSign, Hambro Perks, and other existing investors. The new funding is expected to help Trade Ledger to expand its sales, marketing and customer delivery teams.
Martin McCann, CEO of Trade Ledger, said, “This new investment will enable us to triple our customer base during 2021. Adoption of our technology is critical for the post-pandemic recapitalisation of the economy and we are driving growth as fast as our capital allows, to be able to support this critical economic need, particularly for SMEs. New digital solutions based on real-time business data are the only way to address it.”
Recently, Trade Ledger announced a number of leadership appointments along with a new advisory board in a bid to boost its leadership team and accelerate its growth in the market. It has appointed Paul Carmichael as the Sales lead in APAC region, Bakhtier Pulatov as the Global Head of Product and Roger Vincent as the Managing Director for the UK business.
Alex Tarhini, Operating Partner at Point72 Ventures, said, “We view Trade Ledger as part of an important wave of companies that are disrupting legacy financial technology and, in doing so, are moving the financial services industry forward. Trade Ledger’s data-driven lending capabilities coupled with their embeddable, flexible platform are bringing significant new opportunities to the business lending market, particularly the small and medium enterprises that are the engine of the global economy. Its customers already include the top global credit providers, and we believe it will continue to grow rapidly.” Mr Tarhini will join the Trade Ledger board.
George Davies, Partner at Hambro Perks, said, “We are delighted to continue to back Martin, Matthias, and the entire Trade Ledger team in their mission to build the leading technology to enable lenders across the world to provide funding to SMEs. Since our initial investment in 2019 the team has signed global blue-chip clients, built an outstanding team, and developed a market leading product. We are excited to continue to support Trade Ledger.”
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