Treyd brings inventory financing solution to SMEs in Ireland
By Gloria Methri
Stockholm-based FinTech Treyd is bringing its ‘sell first, pay suppliers later’ offering to inventory-based SMEs in Ireland. The launch provides Irish SMEs with a new way of financing inventory and follows Treyd’s entry into the UK in 2022.
Treyd pays suppliers upfront on behalf of growing retail businesses, which solves the common challenge of having working capital tied up in inventory. This enables D2C and B2B SMEs to sell more goods, control cash flow, and finance inventory purchases for up to four months to free up capital for operational growth.
Treyd’s offering will provide Irish SMEs with an innovative method of stock financing, providing an alternative to existing revenue-based solutions. Irish SMEs will now be able to extend payment terms on supplier invoices by 120 days, relieving cash flow pressures associated with buying stock.
In 2022, Treyd grew its global customer base of small and medium enterprises by 500% and revenue by 1000%, while also expanding internationally, including into the UK where it now works with over 150 SMEs.
Ben Ingram, Head of Partnerships UK & Ireland at Treyd said, “There’s no denying the funding landscape for SMEs has changed over the past 12 months: banks have tightened up the credit process, and venture capital is not as easily accessible. Treyd’s stock financing solution gives SMEs that much-needed working capital to continue growth.”
Peter Beckman, CEO and Co-founder of Treyd said, “Ireland presents an exciting new market for Treyd and continues the company’s ambitious strategy for global expansion. Since our UK launch in 2022, we have been progressively developing our plan to open in Ireland to provide a sustainable solution for local SMEs and businesses to grow. We have already helped more than 650 SMEs worldwide, funding invoices worth over €175 million, and are looking forward to building on that with Irish companies.”
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