TP24, a Zurich, Switzerland-based fintech lending platform, received mezzanine funding facility from Channel Capital Advisors.
The amount of the deal was not disclosed.
The company intends to use the funds to free up equity capital to accelerate business growth and drive global expansion plans.
TP24 is a data-driven business lender providing working capital facilities to SMEs seeking a reliable financing solution. The receivables-backed financing solution provides mid-sized businesses with needed liquidity and enables them to become more independent from banks. At the same time, the over-collateralized security structure and an insurance wrapper provide debt investors with an increased level of security, even compared to alternative lenders in the market.
Channel is an FCA-regulated alternative investment fund manager (AIFM) specialising in fintech, working capital and trade finance investments. Since 2014, the London-headquartered company has deployed more than $9 billion of assets across fintech lending and working capital financing, including trade receivables, inventory, and supply chain finance.
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